Explain how this adds up.

[Account Closed]

I'm reading " The Millionaire Real Estate Investor" by Gary Keller. On page 147-148 he gives an example of equity growth. In the last paragraph of his example he comes to the conclusion that equity in the amount of $128,506 was accumulated in 15 years. I am definitely NOT disputing his numbers, I just can't figure out the math he used to get there. Could someone who understands this please explain it to me? Thanks.

[Michael Reyes]

@Account Closed

Incidently, you can can change the annual appreciation rate (cell D3)to see what affect it has on the property value. Holds true for the purchase price (cell D2).

These are the only cells you need to change to understand the relationship between appreciation and value.

Cheers,

Michael