kaleighlong7980 kaleighlong7980
  • 24-02-2020
  • Mathematics
contestada

A house with an initial value of $140,000 is increasing at a rate of 2% each year. At this rate, approximately what will the value of the house be in 3 years?

Respuesta :

andromache andromache
  • 24-02-2020

Answer:

$148,569.12

Step-by-step explanation:

The computation of the value of the house would be in 3 years is

As we know that

Future = Present value × (1 + interest rate)^number of years

           = $140,000 × (1 + 0.02)^3

           = $140,000 × 1.061208

           = $148,569.12

Basically, we applied the future value by applying the initial value or present value, rate of interest and the time period

Answer Link

Otras preguntas

DESCRIBE how thermal energy and temperature are similar. How are they different?
what isSlope-Intercept Form
Humans conduct _____. external fertilization internal fertilization conjugation pollination
Find the distance between the points given. (-10, 3) and (-10, 12) 9 15
Good evening, I'm French, I learned English, could you help me answer these questions please? Thank you and Merry Christmas to all. Question 1 : Where did the M
What is the sum of all the interior, exterior, and central angles in a convex hexagon?
what isSlope-Intercept Form
A manufacturer buys bolts from a supplier. The bolts cost 0.17 cents each, but the manufacturer made a deal with the supplier and get 4000 bolts for $595.50. To
solve for j. question in the attachment
Which is most likely an acquired trait in horses? A. color of fur B. length of ears C. ability to run D. a slight limp