Question 1202130: The formula S=C(1+r)^t models inflation, where C=the value today, r= the annual inflation rate (in decimal form), and S= the inflated value t years from now. If the inflation rate is 2%, how much will a house now worth $100,000 be worth in 25 years? Round your answer to the nearest dollar?
THE WORK I HAVE DONE SO FAR
---------------------------------------------------------
C=$100,000
R=2% --> 0.02
S= (find S)
t=25 years
Answer by ikleyn(52794)   (Show Source):
You can put this solution on YOUR website! .
The formula S=C(1+r)^t models inflation, where C=the value today,
r= the annual inflation rate (in decimal form), and S= the inflated value t years from now.
If the inflation rate is 2%, how much will a house now worth $100,000 be worth in 25 years? Round your answer to the nearest dollar?
THE WORK I HAVE DONE SO FAR
---------------------------------------------------------
C=$100,000
R=2% --> 0.02
S= (find S)
t=25 years
~~~~~~~~~~~~~~~~~~~~~~~
They want you SUBSTITUTE the given values into the given formula
S =  =  .
Next they want you use your calculator. If you do it, you shoud get
S = 164061 dollars (rounded to the closest dollar). ANSWER
Solved.
That's all they want you do (which I made for you).
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