Question

1) Mr. Rios bought a house in 1960 for $20,000. The value of the house increased by

Answer 1

Answer:

A = 20,000(1.05)^x

Step-by-step explanation:

To get the approximate value of the house after x years, we will use the compound interest formula

A  = P(1+r)^n

P is the principal = $20,000 (cost of house)

r is the rate = 5% = 0.05

x is the time

Substitute into the expressio

A = 20,000(1+0.05)^x

A = 20,000(1.05)^x

Hence the required expression is A = 20,000(1.05)^x