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

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