The cost of the house 10 years from now in the case when inflation rate should be 3% is $282,222.44.
Since
The house cost is $210,000
The time period is 10 years
And, the rate of interest is 3%
So,
[tex]= \$210,000 \times (1 + 0.03)^{10[/tex]
= $282,222.44
Hence, The cost of the house 10 years from now in the case when inflation rate should be 3% is $282,222.44.
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