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Joe bought a house for $200,000. The value of the house can be represented by the formula V = 200,0 t represents the number of years since Joe purchased the home. About how many years will it take for
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9 votes
Joe bought a house for $200,000. The value of the house can be represented by the formula V = 200,0

t represents the number of years since Joe purchased the home. About how many years will it take for
home to be worth more than twice its purchase price?

User Acrophobia
by
7.1k points

1 Answer

8 votes

21

The value of the home after 21 years is 200,000(1.035)^21=411,886.29

User Pedro Perez
by
7.7k points
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