Question 85576This question is from textbook
: Page 810 Problem:56) If the inflation rate is 3%, how much will a house now worth $110,000 be worth in 5 years?
I've done this so far...now I don't know where to go now.
S = t future years
C= 110,000
R = 3%
Note: Period of 60 months (5years).
S=C (1+r)t
3.00% = .03
S=110,000 (1+.03)t
This question is from textbook
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! If the inflation rate is 3%, how much will a house now worth $110,000 be worth in 5 years?
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Value = 110,000(1.03)^5
Value = $127,520.15
Cheers,
Stan H.
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