In hot markets, houses tend to appreciate about 8% each year. If you bought a house for $250,000 and then sold it 5 years later, how much profit would you expect to make (round to the nearest dollar)?
Answer:
$117,322
Step-by-step explanation:
y=250000(1.08)^x
5=x
y=250000(1.08)^5
don't forget to subtract 250,000!!
y=367,332.0192-250000
y=$117,322 rounded to the nearest dollar
:)