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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 -

    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 -


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