If an Average Home in Your Town Currently Costs $300,000

Multiple Choice

If an average home in your town currently costs $300,000, and house prices are expected to grow at an average rate of 5 percent per year, what will an average house cost in 10 years?

A) $450,000.00
B) $483,153.01
C) $488,688.39
D) $507,593.74