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3 years ago

13

mr. and mrs. boyce bought a house for 96000 in 1995. real estate values in their area increase approximately 4% each year. what

was the value of the house in 2007?

1 answer:

Darya [45]3 years ago

6 0

Use this formula:
$P(t) = P_0 (1 + r)^t$
$P(12 years) = (96000) \cdot (1.04)^{12}$
$P(12) = 153699$

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