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House prices in the UK currently average £325,000. Assume an annual growth in house prices of 3.5%, how long will it take for prices to average £500,000?

House prices in the UK currently average £325,000. Assume an annual growth in house prices of 3.5%, how long will it take for prices to average £500,000?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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6. House prices in the UK currently average £325,000. Assume an annual growth in house prices of 3.5%, how long will it take for prices to average £500,000?
Transcribed Image Text:6. House prices in the UK currently average £325,000. Assume an annual growth in house prices of 3.5%, how long will it take for prices to average £500,000?
Candidale Number: Olo1419 aLAt monial imn tument memines to pay Nanmbus Comdidek Numben Ulo1419 11 A GoOD WHICH IMPIOUES WITH J TORAG€ Yums of money (m £)im the futme The smuns arl as 5) Eronne that the second orolen conda tom ra mencionum hold Gt coulal be une neven CHCESE) has aaue uschivm 10,000im 3 wheire tio timelimdean Thelasnl 15,000 in Syeas 20,000in7yeas rame escmemon In Pe Ne e Al ter mbnhituitiore the good mou hes a haesnt walue of Araume that the marailieg cok of imkret is 27- khwougłwat the 7 yean lem, find the pesent waluce of this in hument At oftimuum ima a fimd the alue o this moximises the pauns nalue As Decond elliaahve n hegahveit wonkuns N=4 Value fomnula: V- Pert |tomula. P. Ne A a moscimum c) timd the optimal sloraçe time for interestnckn an folleus R=0.01R=0.05 T0.000 m 9417.65 R=Q.075 iS.o00im Syean to 13 Sa2.56 20.000 im 7yeas -D P 20.000e us.21)=314 124 you weu Confiolmt that imtrust nates uould nemon'n at Z7. t27 yeas esclain why you michht fay 38.000€ for this impument? Roblol dP 1924) 28 096 qu14.65+1357?.56+ 17387.16 =4037737 16 IS.294 tit wst 38obo luould buly it os i nouled still hoht 2377.77 13 Pedro Study SKIIS n-Please reply.
Transcribed Image Text:Candidale Number: Olo1419 aLAt monial imn tument memines to pay Nanmbus Comdidek Numben Ulo1419 11 A GoOD WHICH IMPIOUES WITH J TORAG€ Yums of money (m £)im the futme The smuns arl as 5) Eronne that the second orolen conda tom ra mencionum hold Gt coulal be une neven CHCESE) has aaue uschivm 10,000im 3 wheire tio timelimdean Thelasnl 15,000 in Syeas 20,000in7yeas rame escmemon In Pe Ne e Al ter mbnhituitiore the good mou hes a haesnt walue of Araume that the marailieg cok of imkret is 27- khwougłwat the 7 yean lem, find the pesent waluce of this in hument At oftimuum ima a fimd the alue o this moximises the pauns nalue As Decond elliaahve n hegahveit wonkuns N=4 Value fomnula: V- Pert |tomula. P. Ne A a moscimum c) timd the optimal sloraçe time for interestnckn an folleus R=0.01R=0.05 T0.000 m 9417.65 R=Q.075 iS.o00im Syean to 13 Sa2.56 20.000 im 7yeas -D P 20.000e us.21)=314 124 you weu Confiolmt that imtrust nates uould nemon'n at Z7. t27 yeas esclain why you michht fay 38.000€ for this impument? Roblol dP 1924) 28 096 qu14.65+1357?.56+ 17387.16 =4037737 16 IS.294 tit wst 38obo luould buly it os i nouled still hoht 2377.77 13 Pedro Study SKIIS n-Please reply.
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