Question

(PLEASE HELP ME)(I WILL GIVE YOU BRAINLINEST)Suppose homes in a big city increase in value 13% every year. How much will a home that cost $150,000 be worth 3 years later? (Remember, the formula is-

A = P(1 + r)t.)


A. $199,650

B. $216,435

C. $163,909

D. $220,280

Answer 1

$216435

Explanation:

Given : Suppose homes in a big city increase in value 13% every year.

To Find: How much will a home that cost $150,000 be worth 3 years later?

Solution:

Principal = $150000

Rate = 13% =0.13

Time = 3 years

Formula :
`A=P(1+r)^t`

Now substitute the values in the formula

`A=150000(1+0.13)^3`

`A=216434.55`

So, The cost of home after 3 years will be $216435

Hence Option B is true