Question

The price of a new home is $126,000. The value of the home appreciates 2% each year. How much will the home be worth in 10 years

Answer 1

153,720

Explanation:

The price of the new home is 126,000

It appreciates by 2%

Therefore the price after 10 years can be calculated as follows

= 126,000 × 1.02^10

= 126,000 × 1.22

= 153,720

Hence after 10 y,ears the price of the house is 153,720