Question
Bob bought some land costing $15,740. Today, that same land is valued at $45,517. How long has Bob owned this land if the price of
Bob bought some land costing $15,740. Today, that same land is valued at $45,517. How long has Bob owned this land if the price of land has been increasing at 6 percent per year?
Multiple Choice
- 18.22 years
- 19.25 years
- 20.40 years
- 16.37 years
- 17.35 years
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
