SOLUTION
The cost of the house was $266,490
Increase rate = 5%
The cost of the house in n years time is given as
[tex]A=266,490(1.05)^n[/tex]In 14 years, the cost will be
[tex]A=266,490(1.05)^{14}[/tex]Calculate the value
[tex]\begin{gathered} A=266,490\times1.9799 \\ A=527650 \end{gathered}[/tex]Therefore, the value of the house in 14 years will be $527,650
