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

Answer 1

Value = 75,000*(1.022)^11 ≈ 75,000*1.2704569 ≈ 95,284. Nearest hundred = $95,300, so answer c.