Question

Carly bought a new house for $125,000. The value of the house appreciates approximately 3.5% each year. What will be the value of the house after 10 years?

Answer 1

Y=125,000 (1+.035)^10

Y=125,000 (1.035)^10

Y=125,000 (1.410598716) or 125,000 (1.41)

Y= $176324.85 or $176250