Question

Aria paid $75,000 for her house. Its property value increased by 2.2% per year. When Aria sold her house after eleven years, how much was it worth, to the nearest hundred dollars?
a.
$133,700
b.
$95,400
c.
$95,300
d.
$93,100


Please select the best answer from the choices provided

A
B
C
D

Answer 1

Use compound growth: 75,000(1.022)^11.

(1.022)^11 ≈ 1.2704, so value ≈ 75,000 × 1.2704 = 95,280 ≈ $95,300 (to the nearest hundred).

Answer: C.