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October 22, 2014

October 22, 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 Sue**, Sunday, November 18, 2012 at 9:45pmWhat an outdated question!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

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