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#mathematics
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#real-estate
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Land rates on average cost k500 per year in 2010 and increases in value by 10% every year.
A) if a man pays for a piece of land each year, how much will he have spent in total from 2010 to 2016?
Land rates on average cost k500 per year in 2010 and increases in value by 10% every year.
A) if a man pays for a piece of land each year, how much will he have spent in total from 2010 to 2016?
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Mar 24
To calculate the total amount spent by the man from 2010 to 2016, we need to calculate the cost of the land each year and then sum them up.
In 2010, the cost of the land is k500.
In 2011, the cost of the land will be 10% more than k500, which is k500 + (10/100)*k500 = k550.
In 2012, the cost of the land will be 10% more than k550, which is k550 + (10/100)*k550 = k605.
Following the same pattern, we can calculate the cost of the land for the years 2013, 2014, 2015, and 2016: