Question

Andrew buys a house for $65,000, and the value of the house increases at a rate of 2% per year. How much will the house be worth in 8 years? Round to the nearest dollar.

Answer 1

The answer is 76,158

Explanation:

65000*(1+0.02)^(8)

=76157.859765147264

then round to the nearest dollar to get 76,158.

Answer 2

I = PRT / 100
I = 65000*8*2 / 100
I = 10400
total money = 10400 + 65000
= $75400
= $75000(nearest dollar)