The Value of a Piece of Property Doubles Every 16 $V ( t ) = 50,000 ( 2 ) ^ { t / 16 }$

question 26

Multiple Choice

The value of a piece of property doubles every 16 years. You buy the property for $50,000. Its value t years after the date of purchase should be $V ( t ) = 50,000 ( 2 ) ^ { t / 16 }$ . Use the model to approximate (to the nearest thousand dollars) the value of the property after 4 years.

• A)$50,000
• B)$6,400,000
• C)$75,000
• D)$59,000
• E)$100,000

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