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Anonymous Anonymous
  • 23-02-2017
  • Mathematics
Answered

william buys a home for 362000. his home is predicted to increase in value 4.5 percent each year. what is the predicted value of his home in 30 years

Verified Answer :

Anonymous Anonymous
  • 23-02-2017

Here, A = P (1 + r/n)^nt

Here, P = 362,000
r = 0.045
n = 1
t = 30

Substitute their values, 
A = 362,000 (1 + 0.045/1)^30
A = 362,000 (1.045/1)^30
A = 362,000(3.745)
A = 1,355,508.165

In short, Your Answer would be $1,355,508.165

Hope this helps!

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