1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nadya68 [22]
3 years ago
12

Calculating the future value of property: Ben Collins plans to buy a house for $220,000. If that real estate is expected to incr

ease in value by 3 percent each year, what will its approximate value be seven years from now?
Mathematics
2 answers:
irina1246 [14]3 years ago
8 0
FUTURE VALUE = PRESENT VALUE * (1 + r)^t

PV = 220,000
r = 3%
t = 7 years

FV = 220,000 * (1 + 3%)^7
FV = 220,000 * (1.03)^7
FV = 220,000 * 1.22987386542487
FV = 270,572.25
Whitepunk [10]3 years ago
5 0

Answer: $270572.25

Step-by-step explanation:

The formula to calculate the Future value is given by :-

FV=PV(1+r)^t, where PV is the presents value , r is the rate of growth ( in decimal) and t is the time period ( in years).

Given :- Present value of house : PV=$220,000

Rate of growth : r= 3%=0.03

Now, the value after t=7 years from now will be :-

FV=(220000)(1+0.03)^{7}\\\\\Rightarrow\ FV=(220000)(1.03)^7\\\\\Rightarrow\ FV=220000\times1.22987386542\\\\\Rightarrow\ FV=270572.250392\approx270572.25

Hence, the its approximate value will be =$270572.25

You might be interested in
Jeffery is wrapping a box. the dimensions of the box are shown. What is the surface area of the box
Schach [20]

Answer: 232

Step-by-step explanation:

Surface area = everything multiplied x 2

3 0
3 years ago
A hula hoop club bought new hula hoops. The state charges 6% sales tax. If the cost for one hula hoop was $17, what was the tota
True [87]
15.98 is the answer
8 0
3 years ago
What is the missing numerator?
Jet001 [13]
The answer is b)04 I did this on my test and got it correct
4 0
3 years ago
Read 2 more answers
F the equation of a circle is (x + 4)2 + (y - 6)2 = 25, its radius is 5
BartSMP [9]
Yes the radius is 5.  Is this a true or false question or is there something you forgot to add to it?
3 0
3 years ago
Your family travels 336 miles in 6 hours.find the unit rate
mamaluj [8]

Answer:

122 po yan po dapat

Step-by-step explanation:

thanks me letter

8 0
2 years ago
Read 2 more answers
Other questions:
  • The sum of three consecutive numbers is 42. What are the numbers?
    6·2 answers
  • Evaluate A = bh, for b = 8 and h = 4
    9·1 answer
  • Use the distributive property to remove the parentheses. -9(-3y-w+6)
    6·1 answer
  • What is 21/45 simplified?
    14·1 answer
  • What is 12x squared - 9x + 15
    15·2 answers
  • Find x using completing the square method<br> x^2+16n+28 = 0
    7·1 answer
  • I need help marking brainliest
    14·2 answers
  • A triangle has a leg with a length of 3 and a hypotenuse with a length of 6.What is the length of the other leg?
    15·1 answer
  • Select all the points that are on the graph of 3 + 2 = 24
    7·1 answer
  • Find the area of the composite figure. Please help me
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!