Answer:
The worth of home in 1 0 years is $371422.8
Step-by-step explanation:
We are given
The price of a new home is $350,000
so, P=350000
The value of the home appreciates 2% each year
r=2%=0.02
t=10 years
We can use formula
[tex]A=P(1+r)^t[/tex]
where
A is the amount after t years
now, we can plug values
and we get
[tex]A=350000(1+0.02)^{3}[/tex]
[tex]A=371422.8[/tex]
So, the worth of home in 1 0 years is $371422.8
