A house was bought six years ago for $175 000. If real-estate values have been increasing at the rate of 4% per year, what is the value of the house now?
2006-12-21 12:36:03 · 6 answers · asked by untilyoucamealong04 3 in Science & Mathematics ➔ Mathematics
175,000 x 4% = 7,000
175,000 + 7,000 = 182,000
182,000 x 4% = 7,280
182,000 + 7,280 = 189,280
189,280 x 4% = 7,571.20
189,280 + 7,571.20 = 196,851.20
196,851.20 x 4% = 7,874.05
196,851.20 + 7,874.05 = 204,725.25
204,725.25 x4% = 8,189.01
204,725.25 + 8,189.01 = 212,914.26
212,914.26 x 4% = 8,516.57
212,914.26 + 8,516.57 = 221,430.83
221,430.83 year 6 Total
2006-12-21 12:53:47 · answer #1 · answered by matt v 3 · 0⤊ 0⤋
Equation:
V = (175000) (1.04)^t
Where V is the value after a certain time
T is the number of years
So, t = 6
Value of the house now is $221,430.83
2006-12-21 20:47:57 · answer #2 · answered by Lilovacookedrice 3 · 0⤊ 0⤋
V=175,000(1.04)^6=$221,430.83
2006-12-21 21:04:55 · answer #3 · answered by mu_do_in 3 · 0⤊ 0⤋
V = V0(r)^t
V = 175000(1.04)^6
V = 221430.829
The value of the house now is $221430.83
2006-12-21 21:10:13 · answer #4 · answered by stewartlucas467 2 · 0⤊ 0⤋
V = (175000) (1.04)^t
at t = 6
V = (175000) (1.04)^6
= $221,430.83
2006-12-21 21:08:12 · answer #5 · answered by Kinu Sharma 2 · 0⤊ 0⤋
217000 i think-_-
2006-12-21 20:46:15 · answer #6 · answered by teddy89 2 · 0⤊ 0⤋