Josh is hiking Glacier National Park. He has now hiked a total of 17 \text{ km}17 km17, space, k, m and is 2 \text{ km}2 km2, sp
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Answer:
$138,345
Step-by-step explanation:
This is a compound decline problem, which will be solve by the compound formula:
Where
F is the future value (value of house at 2030, 14 years from 2016)
P is the present value ($245,000)
r is the rate of decline, in decimal (r = 4% = 4/100 = 0.04)
t is the time in years (2016 to 2030 is 14 years, so t = 14)
We substitute the known values and find F:
Rounding it up, it will be worth around $138,345 at 2030