Tamara purchased a building for $114,750. the land appreciates about 2.3% each year. what is the value of the land after 11 years?

$147,361.71

Step-by-step explanation:

The exponential growth function is given by :-

, where A is the initial value , r is the rate of growth and  x is the time period.

Given : Tamara purchased a building for $114,750. The land appreciates about 2.3% each year.

i.e. A = $114,750 and r = 2.3%=0.023

Put The value of A and r in the above function, we get

Now, the value of the land after 11 years is given by :-

Hence, the value of the land after 11 years  = $147,361.71

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Step-by-step explanation: