The formula s=c(1+r)t models inflation, where c= the value today, r=the annual inflation rate(in decimal form), and s= the inflated value t years from now. if the inflation rate is 3%, how much will a house now worth $123,000 be worth in 23 years? round your answer to the nearest dollar

The house worth in 23 years is $ 242751

Solution:

The formula that models inflation is given as:

Where,

C = the value today

r - annual inflation rate in decimal form

t = number of years from now

Given that,

C = $ 123, 000

t = 23 years

Substituting the values in formula,

Thus the house worth in 23 years is $ 242751

50.6

step-by-step explanation: