SOLUTION: A house bought five years ago for $60,000 has increased in value 10% each year. Find its value now.

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Question 82379This question is from textbook
: A house bought five years ago for $60,000 has increased in value 10% each year. Find its value now. This question is from textbook

Answer by checkley75(3666) About Me  (Show Source):
You can put this solution on YOUR website!
60000+.1*60000=60000+6000=66000 VALUE AFTER THE FIRST YEAR
66000+.1*66000=66000+6600=72600 VALUE AFTER 2 YEARS
72600+.1*72600=72600+7260=79860 VALUE AFTER 3 YEARS
79860+.1*79860=79860+7986=87846 VALUE AFTER 4 YEARS
87846+.1*87846=87846+8784.6=96630.6 VALUE AFTER 5 YEARS.