You buy a house for $130,000. It appreciates 6% per year. How much is it worth in 10 years
The accumulated value in n years for the house is:
A(n) = 130,000(1.06)^n
We want A(10)
A(10) = 130,000(1.06)^10
A(10) =130,000*1.79084769654
A(10) = 232,810.20
The accumulated value in n years for the house is:
A(n) = 130,000(1.06)^n
We want A(10)
A(10) = 130,000(1.06)^10
A(10) =130,000*1.79084769654
A(10) = 232,810.20