Question

A house is valued at £240 000.

Answer 1

The formula for calculating the amount predicted at t years is expressed as:

A = P(1+r)^t. The  predicted value after 2 years is £253.62

Exponential function

The formula for calculating the amount predicted at t years is expressed as:

A = P(1+r)^t

where

• P is the principal
• r is the rate
• t is the time

Substitute the given parameters

A = 240(1+0.028)^2
A =240 (1.028)^2

A = £253.62

Hence the  predicted value after 2 years is £253.62

Learn more on exponential function here; brainly.com/question/12940982

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