Question

Jillians parents bought a house for $450,000 and the value of the house has been increasing steadily by 3% each year. If jillians parents sell their house 10 years after they bought it, how much profit will they make? ( that is, how much more are they selling it for than they bought it for?) express your answer as both a dollar amount and a percent of the original purchase price.

Answer 1

selling price will be 450000*1.03^10

Then just subtract the initial cost to get the profit.

Answer 2

7*66=987