Question

I bought a house for 170000 and has appreciate 5% per year. How much would appreciate in 3 years?

Answer 1

To calculate the appreciation of the house over a period of 3 years with a 5% annual appreciation rate, we can use the formula:

Appreciation = Purchase price * (1 + Appreciation rate)^Number of years

Let's calculate the appreciation:

Appreciation = $170,000 * (1 + 0.05)^3
= $170,000 * (1.05)^3
≈ $170,000 * 1.157625
≈ $196,596.25

Therefore, the house would appreciate to approximately $196,596.25 after 3 years with a 5% annual appreciation rate.