Question
At the start of 2014 Tim's house was worth 100,000.
The value of the house increased by 10% every year.
Work out the value of his house at the start of 2018
The value of the house increased by 10% every year.
Work out the value of his house at the start of 2018
Asked by: USER6592
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174 Answers
Answer (174)
For this case we have a function of the form:
y = A * (b) ^ t
Where,
A: initial amount
b: growth rate
t: time
Substituting values we have:
y = 100000 * (1.10) ^ 4
y = 146410
Answer:
the value of his house at the start of 2018 is:
y = 146410
y = A * (b) ^ t
Where,
A: initial amount
b: growth rate
t: time
Substituting values we have:
y = 100000 * (1.10) ^ 4
y = 146410
Answer:
the value of his house at the start of 2018 is:
y = 146410