A cottage is purchased for $140 000. The cottage is expected to increase in value each year by 4.5%. The value of the cottage can be represented by $A(t) = 140000(1.045)^t$, where $A(t)$ is the value of the cottage and $t$ is the number of years after the purchase. Rounded to the nearest year, it will take the cottage years to be worth $225 000.
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045)$^t$ and we want to find the value of t when A(t) = 225000. Show more…
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