Answer:
Anita Bath's home was worth $ 593,195.62 in 2007.
Step-by-step explanation:
Given that from 1992 to 2007 the average home price increased by 8% per year, and in 1992 Anita Bath bought a house for $ 187,000, to determine what was it worth in 2007 the following calculation must be performed:
2007 - 1992 = 15
187000 x 1.08 ^ 15 = X
187000 x 3.172 = X
593,195.62 = X
Therefore, Anita Bath's home was worth $ 593,195.62 in 2007.
