The Estradas Are Planning to Buy a House 2 Year(s)

question 34

Multiple Choice

The Estradas are planning to buy a house 2 year(s) from now. Housing experts in their area have estimated that the cost of a home will increase at a rate of 9% / year during that 2-year period. If this economic prediction holds true, how much can they expect to pay for a house that currently costs $90,000? Round your answer to two decimal places. ​

• A) $106,929.00
• B) $107,326.67
• C) $107,749.56
• D) $107,677.22

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Definitions:

Compression

The process of reducing the volume of a material by applying pressure, or in geology, the stress state in which rock is pressed together, increasing its density.

Tension

A force that stretches material or causes it to be pulled apart.

Columnar Joints

Vertically oriented, hexagonal columns of rock that form as a result of the cooling and contraction of volcanic or igneous rocks.

Internal Strain

The deformation within a material or body due to applied stress or pressure.