Ben Collins plans to buy a house for $160,000. If the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be six years from now? Use Exhibit 1-A. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount.) Value of the house $ Explanation: Using Exhibit 1-A: $160,000 × 1.126 = $180,160

Ben Collins plans to buy a house for $160,000. If the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be six years from now? Use Exhibit 1-A. (Round your FV factor to 3 decimal places and final answer to the nearest dollar amount.)

  

Value of the house

$

Explanation:

Using Exhibit 1-A: $160,000 × 1.126 = $180,160