Ask Question
10 June, 01:20

a. If the value of land in an area is increasing 10.5 percent a year, how long will it take for property values to double? (Round your answer to 1 decimal place.)

+3
Answers (1)
  1. 10 June, 03:44
    0
    6.7 years

    Explanation:

    This question can be answered using Rule 70. It is a rule that it used to estimate how long it takes for an investment to double in value. In this case, the investment is land and the rate is 10.5%.

    Formula for rule 70;

    Time it takes for value to double = 70/rate

    Time it takes for value to double = 70/10.5

    Time = 6.6666

    To the nearest 1 decimal place, it would take 6.7 years
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “a. If the value of land in an area is increasing 10.5 percent a year, how long will it take for property values to double? (Round your ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers