Helpn The formula S = C(1 + r)' models inflation, where C = the value today, r= the annual inflation rate (in decimal form), and S= the inflated value t years from now. If theinflation rate is 6%, how much will a house now worth $194,000 be worth in 19 years? Round your answer to the nearest dollar.The house will be worth $(Round to the nearest dollar as needed.)

Answered: Image /qna-images/answer/907af8ab-aec2-4cf9-83ed-9be0a7049edb.jpg

Answered: The formula S = C(1 +r)' models…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 7SC

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