Question

1. A house which cost £96000 appreciated in value each year by 1.6%
Calculate the value of the house after 4 years.
Give your answer to 3 significant figures

Answer 1

Answer:

  £102,000

Step-by-step explanation:

A growth rate of 1.6% corresponds to an annual growth factor of ...

  1 +1.6% = 1.016

The house value is multiplied by this factor each year for 4 years, so the final value is ...

  £96000 × 1.016⁴ ≈ £102,293

To 3 significant figures, the house value after 4 years is £102,000.

Answer 2

Answer:

answer : 102293.04

3 significant figures : 102000

Step-by-step explanation: