Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. some time ago, julie purchased eleven acres of lan

Some time ago, Julie purchased eleven acres of land costing $14,890. Today, that land is valued...

90.2K

Verified Solution

Question

Finance

Some time ago, Julie purchased eleven acres of land costing$14,890. Today, that land is valued at $71,805. How long has sheowned this land if the price of the land has been increasing at 6percent per year?

27.13 years

26.51 years

27.00 years

26.72 years

26.67 years

Answer & Explanation Solved by verified expert
4.3 Ratings (546 Votes)
Solution Answer is 3rd option 2700 years Working Notes Future value Present Value 1rt Future value today value of land 71805    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

A vat of volume 1100 gallons initially contains 4 lbs of salt. For t > 0...

Basic Math
1.2K views

A chorded cycle in a graph is a cycle in the graph with one additional edge...

Biology
1.2K views

When doing the streak plate how many times should you get bacteria from the tube...

Biology
1.2K views

Choose the correct answer.Potent: Powerful :: Lethal :MeanDeadlyObvious

Biology
1.2K views

Question 9 Points 1 Which of the following statement is TRUE O The capital of...

Physics
1.2K views

A convex lens of focal length 10 cm can pro duce a i magnified virtual...

Geometry
1.2K views

Triangle ABC has the following coordinates A 1 1 B 5 4 C 4 1...

Statistics
1.2K views

The notation for conditional probabilities always follows which general format O Pla specific outcome and...

Accounting
1.2K views

Wildhorse Inc. manufactures two electronic products, widgets and gadgets, and has a capacity...

Accounting
1.2K views

The following events took place at a manufacturing company for the current year: (1) Purchased...

Accounting
1.2K views

Question #1 ROBLEM: Ms. Shara Perez began an Upholstery cleaning business...

Accounting
1.2K views

On the balance sheet, accumulated depreciation is: A. subtracted from property and equipment. B. added...