Question
You inherit a section of farmland on January 1st, 2005, when it is worth $1000 per acre. Due to nearby suburban development, it appreciates 5%
You inherit a section of farmland on January 1st, 2005, when it is worth $1000 per acre. Due to nearby suburban development, it appreciates 5% a year. You decide to sell the section on January 1st, 2015. How much do you receive in total?
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
