Suppose you inherited a house that was purchased in 1950 for $20,000. It is now 2015 and the value of the house has increased by

Question

Suppose you inherited a house that was purchased in 1950 for $20,000. It is now 2015 and the value of the house has increased by approximately 5% each year (compound annually). What is the house worth now? Round to the nearest dollar.
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Kunduz · Accepted Answer

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