Some Time Ago, Richard Purchased Five Acres of Land Costing

question 46

Multiple Choice

Some time ago, Richard purchased five acres of land costing $123,400. Today, that land is valued at $189,700. How long has he owned this land if the price of land has been increasing at 5.5% per year?

• A) 6.01 years
• B) 6.98 years
• C) 7.42 years
• D) 8.03 years
• E) 8.67 years

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Definitions:

Ethmoid

A porous bone located between the eyes and forming part of the nasal cavity and the eye sockets.

Zygomatic

Pertaining to the cheekbone or zygoma, which is a bone that forms part of the orbit of the eye and the cheek.

Temporal

Pertaining to the temporal bone of the skull, near the temples, and involved in hearing and balance.

Parietal

Relating to or attached to the wall of a cavity or body, such as the parietal bones of the skull or the parietal lobe of the brain.