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Zepler [3.9K]
4 years ago
7

Bought a condo for $83,000. Assuming that its value will appreciate 6% per year, how much will the condo be worth in 5 years?

Mathematics
1 answer:
yarga [219]4 years ago
6 0

Answer:

$111,073

Step-by-step explanation:

it's compounding

A = P x (1 + r)ⁿ

 = 83000 x ( 1 + 0.06)⁵

 = 83000 x 1.3382

 = 111073

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