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Lily is planning to sell her home, which she bought seven years ago for a total of $168,000. The property value has increased by 2. 5% each year for the past seven years. In the meantime, Lily has made improvements and renovations to the home which increase its sale value by $52,000. How much will Lily sell the home for, to the nearest hundred dollars? a. $261,500 b. $249,400 c. $267,000 d. $251,700.

Respuesta :

abiolataiwo2015

The amount that Lily will sell the home for, to the nearest hundred dollars is d. $251,700.

First step is to calculate the amount using this formula

A=P(1+r)^n

Let plug in the formula

A=168,000(1+0.025)^7

A=168,000(1.025)^7

A=168,000(1.18869)

A=199,699

Second step is to calculate the how much will Lily sell the home for.

Selling price=$199,699+$52,000

Selling price=$251,699

Selling price=$251,700 (nearest hundred dollars)

Inconclusion the amount that Lily will sell the home for, to the nearest hundred dollars is d. $251,700.

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https://brainly.com/question/1153322

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