Question

Aria paid $75,000 for her house. Its property value increased by 2.2% per year. When Aria sold her house after eleven years, how much was it worth, to the nearest hundred dollars?

Answer 1

Answer:

When Aria sold her house after eleven years it worth was $95,300.

Step-by-step explanation:

Given:

Aria paid $75,000 for her house. Its property value increased by 2.2% per year.

Now, to find the worth of Aria house when sold after eleven years.

Let the amount of house after eleven years be $x.$

Amount Aria paid for her house (A) = $75,000.

Rate of property increased per year (r) = 2.2%.

Time (t) = 11 years.

Now, to get the amount of house after eleven years we put formula:

$x=A\times (1+\frac{r}{100})^{11}$

$x=75000\times (1+\frac{2.2}{100})^{11}$

$x=75000\times (1+0.022)^{11}$

$x=75000\times (1.022)^{11}$

$x=75000\times 1.2704$

$x=95280.$

The amount of house after eleven years to the nearest hundred dollars is $95,300.

Therefore, when Aria sold her house after eleven years it worth was $95,300.