Homework Help: math

Posted by Latina on Sunday, July 12, 2009 at 2:07pm.

If inflation is 6% a year compounded annually, what will it cost in 21 years to buy a house currently
valued at $230,000? Round to the nearest cent.

math - MathMate, Sunday, July 12, 2009 at 3:35pm
Present value = 230,000
Inflation rate, r = 6% p.a.
Period, n = 21
Future value
= present value * (1 + r)ⁿ

You should have no problem proceeding from here.
math - Anonymous, Friday, October 12, 2012 at 6:30am
rrtr

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