Question #91c1d

1 Answer
Jarni Renz
Jan 8, 2018

#~~$46K#

Explanation:

This can be solved using the formula:

#FV=P(1+i)^n#

where:
#FV= "the future value"#
#P= "the amount invested"#
#i="interest rate per year"#
#n="number of years"#

Plug in values as provided;
#FV=P(1+i)^n#
#FV=$40,000.(1+0.07)^2#
#FV=$40,000.(1,1449)#
#FV=$45,796.#

Therefore, after #2 " years"#, the land appraisal will be #$45,796.#

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