A House Appreciates by 6% Each Year

question 69

Multiple Choice

A house appreciates by 6% each year. If the house is worth $77,000 today, how much will it be worth 15 years from now? Round your answer to the nearest cent.

• A) $184,541.99
• B) $184,543.99
• C) $184,534.98
• D) $184,520.98

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Definitions:

Prison Guards

Individuals responsible for the supervision, safety, and security of prisoners in a correctional facility.

Social Loafing

The phenomenon whereby individuals reduce their effort when working in a group compared to when working alone, due to perceived diffusion of responsibility.

Audience Effect

The impact on an individual's performance when they are aware they are being observed by others.

Co-action Effect

A phenomenon where the presence of others engaged in the same task can improve individual performance.