Answer:
$1012993.2
Step-by-step explanation:
Given data
Cost of home V= $899,000
Rate of increase= 1%
Time= 12 years
The exponential growth function is expressed as
A=V(1+r)^t
A=899000(1+0.01)^12
A= 899000(1.01)^12
A= 899000*1.1268
A=$1012993.2
Hence the cost of the home will be $1012993.2
