A piece of property was valued at 50k at the end of 1990. Property values in the city where this land is locates increase by 10% each year. The value of the land increases continuously. What is the property worth at the end of 2010?
$150,000. Multiply 50,000 by .1 and you will get 5000. You multiply 5000 by 20 for the 20 years and youll get 100,000. then just add the 50k back into it.
