This is a compound amount with a starting value of $185,000.
Prices are expected to rise at a rate of 2.1%
The formula to obtain the new value at any later time t in years is;
[tex]A=P(1+\frac{r}{100})^t[/tex]
We can insert the known values to get ;
[tex]\begin{gathered} A=185,000(1+\frac{2.1}{100})^{15} \\ =185,000(1.021)^{15} \\ A=\text{ \$252,672.4} \end{gathered}[/tex]
Therefore, the value of the house after 15 years is $252,672.4 Option D
