Question

A town has 15 acres of farmland. The town plans to increase the amount of farmland about 6% every 8 years. If the town continues to follow their plan, how much farmland will be there after 64 years?

Answer 1

Answer:

Approximately 23.91 acres of farmland after 64 years.

Step-by-step explanation:

A town has 15 acres of farmland.

It plans to increase 6% every 8 years.

We can set up equation for the increase.

A=P$(1+r)^{\frac{t}{8} }$

From the given information

P= 15

r=0.06

t=64

Plug in these values into the formula

A=15$(1+0.06)^{\frac{64}{8} }$

Simplify it

A=15$(1.06)^{8}$

Simplify further

A=23.90772...

Approximately 23.91 acres of farmland after 64 years.