The house will be worth $296,989.70 after 14 years.
The future worth of the house is computed as
= Present worth x (1 + rate of increase)^time
Given,
= 150,000 x (1 + 5%)^14
= $296,989.70
The present value formula is PV=FV/(1+i)n, where you divide the future value FV by a factor of 1 + I for each period between the present and future dates. Input these numbers in the present value calculator for the PV calculation: The future value sum FV. A number of time periods (years) t, which is n in the formula.
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