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1) Some time ago, Julie purchased eleven acres of land costing $15,690. Today, that land is valued at $39,648. How long has she owned this

1) Some time ago, Julie purchased eleven acres of land costing $15,690. Today, that land is valued at $39,648. How long has she owned this land if the price of the land has been increasing at 5 percent per year?

19.13 years

18.72 years

19.00 years

18.67 years

18.51 years

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