Answered

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A house has been losing 2% of its value over the past several years. The house was
originally purchased for $250,000. To the nearest dollar, how much should the house
be worth 20 years after the initial purchase?

Sagot :

mhanifa

Answer:

  • $166902

Step-by-step explanation:

The value reduction is 2%.

The value after one year is 98% of the current value, or 0.98 times. And every year after the value is reduced 0.98 times.

After 20 years the value is going to be:

  • V = $250000*0.98²⁰ = $166902 (rounded)
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