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Use this formula to find the value of a house with appreciation: A = V (1+r)Y
When Henry bought his house for $135,700, he was told that it would appreciate at a rate of five percent per year. If this remains true, how much will his house be worth in four years?

Use this formula to find the value of a house with appreciation A V 1rY When Henry bought his house for 135700 he was told that it would appreciate at a rate of class=

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Answer:

[tex]A=\$164,944.20[/tex]

Step-by-step explanation:

we know that

[tex]A=V(1+r)^{Y}[/tex]

In this problem we have

[tex]r=5\%=0.05[/tex]

[tex]V=\$135,700[/tex]

[tex]Y=4\ years[/tex]

substitute in the formula and solve for A

[tex]A=\$135,700(1+0.05)^{4}=\$164,944.20[/tex]

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