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MATH

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Find the cost of a home in 20 years, assuming an annual inflation rate of 4%, if the present value of the house is $285,000. (Round your answer to the nearest cent.)

  • MATH - ,

    If $605 is invested in an account that earns 20.25%, compounded annually, what will the account balance be after 25 years? (Round your answer to the nearest cent.)

  • MATH - ,

    1.04^20 = 2.19
    2.19*285,000 = 624,470

  • MATH - ,

    Now do
    1.2025^25 *605

    = 60,797

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