A house appreciates (grows in value) about 6% each year. If the house is now worth $158,000, in about how many years will it be worth $200,000? Use the equation 200,000 = 158,000 (1.06) ^x to solve the problem. Round to the nearest year

Question

Mathematics

Yasmine Gilmore

30 June, 00:15

A house appreciates (grows in value) about 6% each year. If the house is now worth $158,000, in about how many years will it be worth $200,000? Use the equation 200,000 = 158,000 (1.06) ^x to solve the problem. Round to the nearest year

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Answers (2)

Know the Answer?

Aliza Farrell · Answer 1

200,000=158,000 (1.06) ^x, find x.

200,000-158,000 therefore,

42000 = (1.06) ^x

I forgot how to do the rest, but I think you have to square root to find the answer.

Denzel Nguyen · Answer 2

X=log (200,000:158,000) : log (1.06)

X=4 years