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A house is valued at £240 000.
Its value is predicted to rise by 2.8% per
annum.
Calculate its predicted value after 2 years.

Sagot :

Abidemiokinidn

The formula for calculating the amount predicted at t years is expressed as:

A = P(1+r)^t. The  predicted value after 2 years is £253.62

Exponential function

The formula for calculating the amount predicted at t years is expressed as:

A = P(1+r)^t

where

  • P is the principal
  • r is the rate
  • t is the time

Substitute the given parameters

A = 240(1+0.028)^2
A =240 (1.028)^2

A = £253.62

Hence the  predicted value after 2 years is £253.62

Learn more on exponential function here; https://brainly.com/question/12940982

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