The price of a house is expected to increase by 6% every year. If a house is now offered at RM350,000, find the estimated price of the house after 13 years
Answers
Explanation:
cvvbhjjkjhgvvvvvvvvbrtgfggggghhjb
Given :- The price of a house is expected to increase by 6% every year. The house is now offered at RM 350,000 .
To Find :- The estimated price of the house after 13 years ?
Formula used :-
- F = I[1 + (R/100)]^T
- F = Final value
- I = Initial value
- R = Rate of increase .
- T = Total time .
Solution :-
from given data we have,
→ Initial value of house = I = RM 350,000
→ Rate of increasing = R = 6% every year
→ Total time = T = 13 years
→ Final value house = Let F .
putting all values in above total formula we get,
→ F = 350000[1 + (6/100)]¹³
→ F = 350000[1 + 0.06]¹³
→ F = 350000[1.06]¹³
→ F = 350000 × 2.133
→ F ≈ RM 746,550 (Ans.)
Hence, the estimated price of the house after 13 years is equal to RM 746,550 .
Learn more :-
Solve (Do not enter the unit "Rs." in the answer)
Kishore and Keerthi started a project with their respectiv...
https://brainly.in/question/38797288
A, B and C started a business in which B and Care sleeping partners. They invested Rs. 4000, 3000 and 7000 respectively ...
https://brainly.in/question/30162041