$25,000, and you expect it to appreciate 10 percent per year in value, how much will your land be worth 10 years

$64,843.56

Explanation:

If you purchase a parcel of land today for $25,000 and you expect it to appreciate 10 percent per year in value, how much will your land be worth 10 years from now.

Appreciation value = (1+r)^n × PV

Where,

r= appreciation rate = 10%

n= number of years = 10 years

PV = present value = $25,000

Appreciation value = (1+r)^n × PV

= (1 + 10%)^10 × 25,000

= (1 + 0.1) ^10 × 25,000

= (1.1)^10 × 25,000

= 2.5937424601 × 25,000

= 64,843.5615025

Approximately $64,843.56

The land will be worth $64,843.56 in 10 years from now

answer; planning;

answer; normative economics;