I need the answer for A B C D and E A certain house costs
I need the answer for A , B , C , D and E
Solution
Dear Student Thank you for using Chegg !! Given cost of a house in a particular year = 2,85,000.00 $ Rate of rise of cost per year = 5% each year Years Price of House 0 2,85,000.00 1 2,99,250.00 2 3,14,212.50 3 3,29,923.13 4 3,46,419.28 Hence after y years the cost shall be P = 285000(1.05)^y (1) Solution b) Price of the house each year has been calculate by using the same principle as compound interest. Since price is e=increasing at a rate of 5% over the price of previous years So price of next year = previous year price + 0.05*previous year price General formulae for yth year has been deviced in equation (1) Kindly nte that as per Chegg policies an expert can answer at most 1 question at a time. Thank you