Question

The smiths bought a house worth $300,000 in 2005. The value of the house increased by 3% every year.
a) how much was the house worth in 2014?

b) what about in 2020?

Answer 1

Answer:

bro answer is given in the pic

bro the worth of house 2020 is

$300,000+(9,000x15)

= $435,000

Answer 2

Answer:

i) Every year, it increases by 3%

So, In (2014-2005) years, rate will be :- 9×3% = 27%

Therefore, the compound interest is

C.p. = P(1+R/100)⁹

C. p. = 300000×1.27⁹

C.P. = 8.5947547486 × 300000

C.p. = ₹2,578,426.42

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