A certain house costs $285,000. It is estimated that the price of the house will rise 5% each year. If the prices actually rise at that rate, what will the pric

Question

a. Fill in the table below for the price of the house in each year after the start (year 0) until 4

Answer 1

 

Use the formula:  285000 * (1.05)^N  where n is the number of years.

 

N Value
0 285000
1 299250
2 314212.5
3 329923.125
4 346419.2813
5 363740.2453