If a house is purchased at $240,000, what is the predicted value of the house in 12 years if it appreciates at a rate of 4% per year? Round to the nearest cent, if necessary. (Hint: The formula for appreciation is p(l+r)^r , where p is the principal or initial amount, r is the yearly rate of appreciation expressed as a decimal, and ^r is the time in years.)

Question

If a house is purchased at $240,000, what is the predicted value of the house in 12 years if it appreciates at a rate of 4%  per year? Round to the nearest cent, if necessary. (Hint: The formula for appreciation is p(l+r)^r , where p  is the principal or initial amount, r is the yearly rate of appreciation expressed as a decimal, and  ^r is the time in years.)

anonymous · Answer

what is the l?

anonymous · Answer

I think it maybe stands for linear