Friday

December 19, 2014

December 19, 2014

Posted by **sarah** on Sunday, November 18, 2012 at 9:43pm.

- algebra -
**Ms. Sue**, Sunday, November 18, 2012 at 9:45pmWhat an outdated question! Housing prices have not been rising in the last several years.

- algebra -
**scientest**, Sunday, November 18, 2012 at 9:45pmclarification question: is this simple interest or compound interest? In other words, does it increase by a steady amount of money (so like maybe 2000 dollars per year) or does it increase by 1.05 of the money you have now? (so the next year would be 1.05, and the year after that would be 1.05^2)

- algebra -
**scientest**, Sunday, November 18, 2012 at 9:46pmYup that is right Ms. Sue because of our bad economy...

- algebra -
**Reiny**, Sunday, November 18, 2012 at 9:58pminflation is an exponential concept, so the interest would be compound interest.

amount = 260000(1.05)^20 = 689,857.40

**Answer this Question**

**Related Questions**

MATH - Find the cost of a home in 20 years, assuming an annual inflation rate of...

MATH - Find the cost of a home in 20 years, assuming an annual inflation rate of...

accounting - House mortgage You have just purchased a house and have obtained a...

accounting - You have just purchased a house and have obtained a 30-year, $200,...

home economics - Suppose you’ll have an annual nominal income of $40,000 for ...

Accounting - How would I find the formula for these problems? Please help me.. ...

Financing and Accounting - How would I find the formula for these problems? ...

math - find the present value of ordinary annuity payments of 890 each year for ...

Math - The home that you purchased in 2004 steadily increased in value for the ...

Finance - (Inflation) A project’s initial investment is $40,000, and it has a ...