Crosswords1 min ago
house value
4 Answers
my bungalow's present value is �150,000 - if the value increases at 5% per annum what do you reckon value in say 10years and 15 years - i think about �194,000 and �?
Answers
Best Answer
No best answer has yet been selected by phizzy. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.What we are talking about is compound interest and the same applies to a savings account
n
FV=PV(1+i)
where FV = future value
PV = present value
i= interest rate/100
n= length of term
10
Therefore FV =150,000(1+.05)
15
or FV=150,000(1+.05)
http://www.moneychimp.com/calculator/compound_ interest_calculator.htm
n
FV=PV(1+i)
where FV = future value
PV = present value
i= interest rate/100
n= length of term
10
Therefore FV =150,000(1+.05)
15
or FV=150,000(1+.05)
http://www.moneychimp.com/calculator/compound_ interest_calculator.htm