algebra 2

posted by .

suppose a house that costs $270,000 appreciates by 5% each year. in about how many years will the house be worth $350,000? use the equation 350 = (270) (1.05)^x and round the value of x to the nearest year.

  • algebra 2 -

    350 = (270) (1.05)^x
    1.2963 = 1.05^x
    log both sides
    log 1.2963 = log (1.05^x)
    log 1.2963 = xlog(1.05)
    x = log1.2963/log1.05
    = ....

    you do the button pushing.

  • algebra 2 -

    89

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math word problem

    The owner of a rental house can depreciate its value over a period of 27 1/2 years, meaning that the value of the house declines at an even rate over that period of time until the value is $0 a. By what fraction does the value of the …
  2. math

    The Rental Depreciation Problem. The owner of a rental house can depreciate its value over a period of 27 ½ years, meaning that the value of the house declines at an even rate over that period of time until the value is $0. a. By …
  3. Alg2

    The Mendes family bought a new house 10 years ago for $120,000. The house is now worth $191,000. Assuming a steady rate of growth, what was the yearly rate of appreciation?
  4. Alg2

    Can't figure this one out...The Mendes family bought a new house 10 years ago for $120,000. The house is now worth $191,000. Assuming a steady rate of growth, what was the yearly rate of appreciation?
  5. tax

    Mrs. Gonzales must use a wheelchair. Upon advice from her physician, she installed an elevator and widened the front entrance of her house in 2011, incurring $15,000 and $4,000 in costs, respectively. Mrs. Gonzales originally purchased …
  6. Algebra I

    Please show me how to solve: The value of a $20,000 car decreases every year, t. The equation below models this situation: 20000(1-0.04t)=13,000. After how many years will the car be worth $13,000. Round to the nearest tenth if necessary.
  7. math - Help

    The value of a $20,000 car decreases every year, t. The equation below model this situation. 20,000(1-0.04t) = 13,000 How many years will the car be worth $13,000?
  8. math

    Use any problem solving strategy to solve the following problem.The value of a house is expected to increase from its current value of $50,000 by 3%each year .What will the value of the house be after 3 years ?
  9. Finance

    Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. Assume you get a 15-year mortgage with a 6 percent interest rate. If the house appreciates at a 2 percent rate per year, …
  10. Math

    A house worth $350,000 when purchased was worth $335.000 after the first year and $320,000 after the second year. If the economy does not pick up and this trend continues, what will be the value of the house after 6 years. A) determine …

More Similar Questions