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12 July, 22:28

you buy a house for $130,000. it appreciates 6% per year. How much is it work in 10 years? exponential growth or decay?

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  1. 12 July, 23:56
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    Its worth would be $232,810 in 10 years ...

    Step-by-step explanation:

    Let P be the price of house today

    r = growth rate

    n = number of years of appreciation

    Then future price can be calculated as:

    P * (1+r/100) ^n

    Plug the values in the formula

    130,000 (1+0.06) ^10

    130,000 (1.06) ^10

    $232,810

    Therefore its worth would be $232,810 in 10 years ...
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