Answer:
The house will be worth $166890.88 in 2 years.
Step-by-step explanation:
Formula for growth function: [tex]A=P(1+r)^t[/tex] , where [tex]P=[/tex] Initial value, [tex]A=[/tex] Final value, [tex]r=[/tex] Rate of growth and [tex]t=[/tex] Time duration.
Here, [tex]P= \$154300, r=4\% = 0.04[/tex] and [tex]t= 2[/tex] years.
So,
[tex]A= 154300(1+0.04)^2 = 154300(1.04)^2 = 154300(1.0816)=166890.88[/tex]
So, the house will be worth $166890.88 in 2 years.
