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house value

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phizzy | 20:41 Thu 05th Jul 2007 | Business & Finance
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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 �?
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244334.1940166162109375

(1.05^10) x 150000

311839.22691170508865814208984375
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
My entry has been reformatted

the 'n' should be the power to (1+ i)
for terms 10 and 15 respectively

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