Question

Question #91c1d

Answer 1

`~~$46K`

Explanation:

This can be solved using the formula:

`FV=P(1+i)^n`

where:
`FV= "the future value"`
`P= "the amount invested"`
`i="interest rate per year"`
`n="number of years"`

Plug in values as provided;
`FV=P(1+i)^n`
`FV=$40,000.(1+0.07)^2`
`FV=$40,000.(1,1449)`
`FV=$45,796.`

Therefore, after `2 " years"`, the land appraisal will be `$45,796.`