Question

A house was bought for £100,000

Its value appreciates by 7.5% each year for the Nirst three years. What was its value at the end of the three years?

Answer 1

122500

Explanation:

The formula

A=p(1+rt)

A ?

P 100000

R 0.075

T 3 years

A=100,000×(1+0.075×3)

A=122500