brazyquin
Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Ask your questions and receive detailed answers from professionals with extensive experience in various fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Moe bought a home for $200,000 in 2012. Every year the city appraiser has said Moe's home has increased in value 5% What it Moe's home worth in 2019?
a. $230,000
b. $281420
c. $268,019
d. $269972​

Sagot :

Given :

Moe bought a home for $200,000 in 2012. Every year the city appraiser has said Moe's home has increased in value 5% .

To Find :

What it Moe's home worth in 2019.

Solution :

We know, formula of compound interest is :

[tex]A = P ( 1 + \dfrac{R}{100})^n\\\\A = 200000\times ( 1 + \dfrac{5}{100})^{2019-2012}\\\\A = 200000\times ( 1 + \dfrac{1}{20})^7\\\\A = \$ 281420.0[/tex]

Hence, this is the required solution.

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.