You have decided to buy a new house 3 years from now. The current price of the house is $155,490.77, and the price is expected to rise by 5% per year until you are ready to buy it. The bank is requiring a 10% down payment on the house. Assuming no closing costs, how much will you have to borrow from the bank to buy the house?

Multiple Choice

• $162,000.00

• $155,490.77

• $139,941.69

• $180,000.00