We have the following appreciation equation A(y) where y is the number of years:

A(y) = Initial Balance * (1 + appreciation percentage)^ years

Appreciation percentage of 7% is written as 0.07, so we have:

A(3) = 52,200 * (1 + 0.07)^3

A(3) = 52,200 * (1.07)^3

A(3) = 52,200 * 1.225043

A(3) =

**63,947.25**