The Estradas Are Planning to Buy a House 4 Year(s)

question 33

Short Answer

The Estradas are planning to buy a house 4 year(s) from now. Housing experts in their area have estimated that the cost of a home will increase at a rate of 7% / year during that 4-year period. If this economic prediction holds true, how much can they expect to pay for a house that currently costs $60,000? Round your answer to the nearest cent.
$__________