Answer:
$235185.366
Step-by-step explanation:
To solve this type of problem we must set up a exponential equation.
Our equation is :
175,000 * (1.03)^x
Lets break this down.
175,000 is how much the house is currently worth.
1.03 basically is the amount the house grows by (3%). We write 1.03 instead of .03 because the house retains its value, and on top of it gains an additional 3%.
x is the number of years
Lets plug 10 in for x,
175,000(1.03)^10
$235185.366
your house will be worth $235185.366
