Property value A piece of property sells for $64,000. The value of property doubles every 15 years. A model for the value V of the property t years after the date of purchase is

V (t) = 64,000 (2) t/15.

Use the model to approximate the value of the property (a) 5 years and (b) 20 years after it is purchased.

Question

Mathematics

Kellen Oconnell

11 September, 23:45

Property value A piece of property sells for $64,000. The value of property doubles every 15 years. A model for the value V of the property t years after the date of purchase is

V (t) = 64,000 (2) t/15.

Use the model to approximate the value of the property (a) 5 years and (b) 20 years after it is purchased.

+2

Answers (1)

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Siena · Answer 1

a) $ 80635, b) $ 161270

Step-by-step explanation:

The model after t years is represented by:

V (t) = 64,000 (2) ^t/15

a) when t was five years

V (t) = 64,000 (2) ^5/15 = approx $ 80635

b) when t is 20 years

V (t) = 64,000 (2) ^20/15 = approx $ 161270