If the current value of a property is $20,000 and its value is increasing at 8% per year. Find the expression for the value after t years.

A. $20,000(1.08)t
B. $20,000(1.8)t
C. $20,000(0.92)t
D. $20,000(1.18)t

Question

If the current value of a property is $20,000 and its value is increasing at 8% per year. Find the expression for the value after t years. 

	A.	$20,000(1.08)t
	B.	$20,000(1.8)t
	C.	$20,000(0.92)t
	D.	$20,000(1.18)t

anonymous · Answer

a

jim_thompson5910 · Answer

$$\Large FV = P(1+r)^{t}$$


$$\Large FV = 20000(1+0.08)^{t}$$


$$\Large FV = 20000(1.08)^{t}$$


So it looks like it's choice A