The Carpenter family purchased a house 24 years ago for $220,000. Prices in the housing market in their area have increased by an average 2% annually. If they would like to sell their house this year, what is the house's market value assuming its value has increased at the same rate as the housing market in their area?

The Carpenter family purchased a house 24 years ago for $220,000. Prices in the housing market in their area have increased by an average 2% annually. If they would like to sell their house this year, what is the house's market value assuming its value has increased at the same rate as the housing market in their area? Click here to access the TVM Factor Table calculator. Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is + $10. eTextbook and Media Save for Later Attempts: 0 of 1 used Submit