You purchase a home for $240,000 that you expect to appreciate 6% in value on an annual basis. How much will the home be worth in ten years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to nearest dollar amount.)

Multiple Choice

• $134,016

• $429,792

• $1,766,424

• $3,163,392

(Can you please include the steps on a calculator too so I can understand how to do it myself? Thank you!)