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15 April, 05:48

The lee family bought their home for $220,000 this year. The equation V = $220,000 (1.038) * can be used to find the value, V, for their home after x years. Which is gonna be the value of the lee family's home after 5 years?

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  1. 15 April, 08:25
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    I assume this V = $220,000 * (1.038) is for one year = $228,360 + (5*1.038) simple interest = V = $ 228,365.19
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