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If a $154,300 house appreciates 4 percent annually, what will it be worth in 2 years?

$154,300

$166,891

$200,226

$189,433
1 points
QUESTION 7

If a $178,200 house appreciates 6 percent annually, what will it be worth in 2 years?

$154,300

$166,891

$200,226

$178,200

Respuesta :

Answer:

A) The the Price of house after 2 years is $160,472

B) The price of house after 2 years is $ 200,225.52

Step-by-step explanation:

Given as :

A) The initial price of house is $154,300

The percentage increase = 4%

The time period = 2 years

So, [tex]Increase Amount = Initial amount\times  ( 1 +\frac{Rate}{100})^{Time}[/tex]

or,  [tex]Increase Amount = $154,300\times  ( 1 +\frac{4}{100})^{2}[/tex]

Or,  [tex]Increase Amount = $154,300\times  ( 1.04})^{2}[/tex]

∴ Increase Amount = $ 160,472

Hence The the Price of house after 2 years is $160,472

B)  The initial price of house is $178,200

The percentage increase = 6%

The time period = 2 years

So, [tex]Increase Amount = Initial amount\times  ( 1 +\frac{Rate}{100})^{Time}[/tex]

Or,  [tex]Increase Amount = 178,200\times  ( 1 +\frac{6}{100})^{2}[/tex]

Or,  [tex]Increase Amount = $178,200\times  ( 1.06})^{2}[/tex]

∴ Increase Amount = $ 200,225.52

Hence The price of house after 2 years is $ 200,225.52   Answer

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