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The value of real estate in a city is increasing, without limitations, at a rate proportional...

The value of real estate in a city is increasing, without limitations, at a rate proportional to its current value. A piece of property in the city appraised at $230,000 22 months ago appraises at $234,000 today. At what value will the property be appraised 18 months from now?

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Answer #1

Thus its value 18 months from now will be $237,324.41.

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