The Calgary Real Estate Board reports that house prices increased by 5% during the first seven months of the year. If prices continue to rise at the same rate for the subsequent five months, what will be the (compound) increase for the entire year?

Calgary Real Estate Board

An industry association in Calgary, Alberta, that provides resources and support to real estate professionals.

Compound Increase

An increase where interest is calculated on the initial principal and also on the accumulated interest of previous periods.