Question

Sheryl purchased a plot of land for $32,500. The land appreciates about 4.9% each year. What is the value of the land after eleven years?

A) $50,017.50

B) $18,701.18

C) $55.006.46

D) $33,989.96

Answer 1

50,017.50 is the answer...
32,500 times 0.049 = $17517.50 + 32,000 = $50,017.50
Hope this helps!