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Today you have bought a house in Berkeley at the price of $1 million. Suppose the annual interest rate or growth rate for the housing
Today you have bought a house in Berkeley at the price of $1 million. Suppose the annual interest rate or growth rate for the housing value is 7.3%, how many years later, will your house value be $2 million?
Ct = $2 m, PV0 = $1 m, rt = r = 7.3% or 0.073, t = ?
Ct = PV0 (1+r)t , 2 = 1*1.073t , 2 = 1.073t ,1.073t = 2,
*need help finding "t"
*how do you input this into the calculator please help
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