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Increasing Housing Prices

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You hope to buy your dream house 3 years from now. Today, your dream house costs $247,900. You expect housing prices to rise by an average of 7.5% per year over the next 3 years. How much will you dream house cost by the time you are ready to buy?

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Solution Summary

This solution calculates the price of a house that is expected to rise an average of 7.5% per year.

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