Math help needed: How much can the Kwans expect to pay #8

Mathematics
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The Kwans are planning to buy a house 6 years from now. Housing experts in their area have estimated that the cost of a home will increase at a rate of 6%/year during that period. If this economic prediction holds true, how much can the Kwans expect to pay for a house that currently costs $160,000?
A.
B.
C.
D.
Nov 9th, 2015

Thank you for the opportunity to help you with your question!

Thank you for the opportunity to help you with your question!

Multiply the current cost by 1.06^6 because this represents a 6 percent increase in the price for the six year span.

160,000*1.06^6=240,580

Please let me know if you need any clarification. I'm always happy to answer your questions.Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 9th, 2015

226,963 the answer is D.

My calculator messed up.

Nov 9th, 2015

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