Question

In a suburb of Houston, housing costs have been increasing at 5.2% per a year compounded annually for the past 8 years. A house with a current value of $26,000 would have been worth how much 8 years ago?
Ms. Sue
Are you sure that's $26,000?

I bought a small inexpensive house in 1976 for $30,000. I sold it 14 years ago for $90,000.



I'm Sure.

Related Questions

In a suburb, housing costs have been increasing at 5.2% per year compounded annually for the past 8... Present value equivalent for geometrically increasing series when the first year base of 4,000 incre... Which of the following is used to calculate the income thresholds for the United States' official me...