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You inherited land that was purchased for $30,000 in 1960. The value of the land increases by approximately 5% per year. What will be the approximate value of the land 61 years later in 2021? * 1 point

User Talz
by
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1 Answer

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Answer:

$121,500

Explanation:

If the value increases by 5% every year, then in 61 years it will increase by

5% * 61 years = 305%

301% of %30,000 is $91,500

$(30,000 + 91,500)

= $121,500

User Neil Stevens
by
7.0k points
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