Question

Marianne buys a house for $150,000, and the value of the house increases at a rate of 1.2% per year. How much will the house be worth in 10 years? Round to the nearest dollar.

Answer 1

The rate of 1.2% per year is 1,800 [ (1.2*150,00)/100]. Then in 10 years the rate will be 18,000 [1,800*10] The house will be 168,000 [150,000+18,000