Bob bought some land costing $15,540. Today, that same land is valued at $45,117. How long has Bob owned this land if the price of land has been increasing at 5 percent per year

21.84 years

Step-by-step explanation:

From the compound interest formula;

F = P(1+r)^t 1

ln(F/P) = tln(1+r)

t = ln(F/P)/ln(1+r) 2

Where;

F = Final value = $45,117

P = Initial value = $15,540

r = rate = 5% = 0.05

t = time

Substituting the values into equation 2;

t = ln(45117/15540)/ln(1.05)

t = 21.84542292124 years

t = 21.84 years

It will take Bob 21.84 years

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logv3(x+2)=1

rewrite in exponential form:

logb(x) = y is equal to b^y =x

b = 3, y = 1

now solve for x:

3^1 = x+2)

x = 3-2

x = 1

see the picture for the graph.