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Question id: 141. This question is similar to one that appeared in a GCSE Higher paper (specimen) for 2017. The use of a calculator is allowed.

The value of a new house, \(V\), is given by:

$$V = 120000 × 1.1^t$$where t is the age of the house in complete years and V is in pounds.

(a) Write down the value of V when t = 0.

(b) What is the value of V when t = 4?

(c) After how many complete years will the house’s value rise above £200 000?

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