Question

a house that costs 200000 will appreciate in value by 3% each year. find the value of the house after 3 years

Answer 1

The cost of the house after 3 years is $218,545.40

Explanation:

To find the value of this house after 3 years, multiply the cost by 1.03 three times. This will give you a 3% increase.

200,000 * 1.03 = 206,000

206,000 * 1.03 = 212,180

212,180 * 1.03 = 218,545.40