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Alla [95]
3 years ago
13

Greg buys a home for $328,500. His home is predicted to increase in value 4% each year. What is the predicted value of his home

in 30 years?
Mathematics
2 answers:
vagabundo [1.1K]3 years ago
7 0

Answer:

It is 1,065,456

Step-by-step explanation:

GaryK [48]3 years ago
5 0
The initial value of the Greg`s home: $328,500. If his home is predicted to increase in value 4% each year, that means that the value will rise 1.04 times every year.
The predicted value after 30 years:
$328,500 * ( 1 + 0.04 ) ^30 = 
= $328,500 * 1.04^30 = 
= $328,500 * 3.2434 = 
= $1,065,456.
Answer: The predicted value of his home in 30 years is $1,065,456.
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