A house purchased for $162,400 gains 5% of its value every year. If this growth rate continues, in how many years will the house be worth twice its original value? Round your answer to the nearest tenth as needed.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter7: Conic Sections And Quadratic Systems
Section7.CM: Cumulative Review Exercises
Problem 51CM
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A house purchased for $162,400 gains 5% of its value every year. If this growth rate
continues, in how many years will the house be worth twice its original value? Round
your answer to the nearest tenth as needed.
Transcribed Image Text:A house purchased for $162,400 gains 5% of its value every year. If this growth rate continues, in how many years will the house be worth twice its original value? Round your answer to the nearest tenth as needed.
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