Question

The value of a parcel of land, now worth $90,000, is expected to increase at an annual rate of 7.75%.

What is the predicted value of the land 9 months from now?
Round to the nearest dollar.

Answer 1

$95,231 rounded to the nearest dollar

Explanation:

5.8125/100 * $90,000 = $ 5231.25 increase

$5231.25 + $90,000 = $95,231.25

Round to the nearest dollar = $95,231