Chapter 4.1, Problem 21E

(a)

To determine

To calculate: The value of a piece of property after $5$ years of its purchase if it’s value after $t$ years from the date of purchase is given by exponential function $V(t)=64,000{\left(2\right)}^{\frac{t}{15}}$ where the property was bought for $\$64,000$ and it doubles in every $15$ years.

(b)

To determine

To calculate: The value of a piece of property after $20$ years of its purchase if it’s value after $t$ years from the date of purchase is given by exponential function $V(t)=64,000{\left(2\right)}^{\frac{t}{15}}$ where the property was bought for $\$64,000$ and it doubles in every $15$ years.