Question 364457
The formula S=C(1+r)^t  models inflation, where C= the value today, r= the annual inflation rate, and S=the inflated value t years from now. Use this formula to solve. Round your answer to the nearest dollar. 


If the inflation rate is 6%, how much will a house now worth $465,000 be worth in 10 years? 

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S=C(1+r)^t
C=465,000
r=6% , = 0.06
t=10 years
...
S = 450000(1+0.06)^10
S= 450000*(1.06)^10
S=$805,881 after 10 years
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m.ananth@hotmail.ca