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The Gates family has a home that they purchased for $160,000. If the value of their home increases at a rate of 3% per year, how much will it be worth in 10 years? $208,000.00 $48,000.00 $4,800,000.00
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The Gates family has a home that they purchased for $160,000. If the value of their home increases at a rate of 3% per year, how much will it be worth in 10 years?

$208,000.00
$48,000.00
$4,800,000.00
$215,026.62

User Mapedd
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7.9k points

1 Answer

11 votes
The answer will be the first one, $208,000

1) find the total percentage - 3x10=30%

30% of 160,000 = 48,000

160,000 + 48,000 = $208,000
User Fallanic
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8.0k points
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