Shirley purchased a plot of land for $19,500. The land appreciates about 3.9% each year. What is the value of the land after five years?

19500(1.039)^5 = ?

To find the value of the land after five years, we need to calculate the annual appreciation and then apply it for five years.

First, let's calculate the annual appreciation by multiplying the original value of the land ($19,500) by the appreciation rate (3.9% expressed as a decimal):

Annual appreciation = $19,500 * 0.039 = $760.50

Now, we have the annual appreciation of $760.50. To determine the value of the land after five years, we need to add this appreciation to the original value of the land for each year:

Year 1: $19,500 + $760.50 = $20,260.50
Year 2: $20,260.50 + $760.50 = $21,021.00
Year 3: $21,021.00 + $760.50 = $21,781.50
Year 4: $21,781.50 + $760.50 = $22,542.00
Year 5: $22,542.00 + $760.50 = $23,302.50

Therefore, the value of the land after five years will be approximately $23,302.50.