abbycat7717 abbycat7717

31-03-2020
Mathematics

contestada

The value of a house that was purchased 20 years ago has been appreciating by 1.2% each year since it was purchased. If the house is currently valued at $456,996, what was it worth when it was purchased?

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loganendeavour47 loganendeavour47

31-03-2020

I believe it would have been $347,316.95 at the time of purchase.

1.2% of 456996 is 5483.952

[tex]5483.952 \times 20 = 109679.04[/tex]

So:

[tex]456996 - 109679.04 = 347316.95[/tex]

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