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7 February, 05:25

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

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  1. 7 February, 05:39
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    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
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