Question

At the start of 2014, tim house was worth £100,000 the value of the house increases by 10%per every year work out the value of his house at the start of 2018

Answer 1

$146410

Explanation:

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value

P = Present value

R = interest rate

N = number of years

100,000 x (1.1)^4 = $146410