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16 August, 22:26

in 1990, the value of a home is $170,000. Since then, its value has increased 5% per year. what is the approximate value of a home in 1993?

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  1. 16 August, 22:49
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    value of home in 1991 = 105% of 170000

    value of home in 1992 = 105%*105% of 170000

    value of home in 1993 = 105%*105%*105% of 170000

    =$196,796.25
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