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Your cousin: Dude, my mom and dad just bought me a house! I'm rich! You: No way! Do you kow much they paid for it??
Your cousin: "Dude, my mom and dad just bought me a house! I'm rich!" You: "No way! Do you kow much they paid for it??" Your cousin: "They said $350,000!" You: "That's not bad, considering the prices are still rising!" Your cousin: "So I can be a millionaire soon when I sell my house?? :-)" You: "Well, you're gonna have to wait for that!" Your cousin: "How long until my house is worth $1,000,000? I don't know how to do the math. I've always been weak in math at school!" You: "I know all about it! I have a cool Prof at Cal Poly who taught us! It's easy." Your cousin: "Tell me!!!" You: "Let's say, the prices continue rising at 15% per year, right? I heard it on TV." Your cousin: "And?" You: "So, my Prof showed us how to use a special financial calculator for these things. There are four buttons: PV, FV, IN and N. For PV you put no punctuations. Same way, for FV you put and make it negative. I/will be And then all you do is press CPT and . In fact, I have my calculator with me!" Your cousin: "So, what's the answer?????" You: "Man, you're gonna have to wait years! (Round to 2 decimal places.)" Your cousin: :-(
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