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John buys a house for $350,000. If housing prices increase by 17% a year, how long will it be until his property is worth $700,000?

Respuesta :

Answer:

4.41 years (3 sig. fig.)

Step-by-step explanation:

Let t years be the required time

350000(1+17%)^t = 700000

1.17^t = 2

tlog1.17 = log2

t ~ 4.4148

t = 4.41 (3 sig. fig.)

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