Ben Collins plans to buy a house for 162000 If the real esta

Ben Collins plans to buy a house for $162,000. If the real estate in his area is expected to increase in value by 1 percent each year, what will its approximate value be eight years from now? Use Exhibit 1-A. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.)

Solution

The correct answer is 175,446

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