if a condominium is $110,000 in 2005 and the rate goes up 6% each year how much would it be worth in 2010?
if a condominium is $110,000 in 2005 and the rate goes up 6% each year how much would it be worth in 2010?
In 2010 it should be worth=$147,204.81. Here is the formula that calculates that, if you wish to check the answe:FV=PV[1 + R]^N=FV OF $1 TODAY, Where R=Interest rate per period, N=number of periods, PV=Present value, FV=Future value.
