9514 1404 393
Answer:
$67,516
Step-by-step explanation:
"Depreciates" means the value is getting smaller. The function that describes the situation is a <em>decay</em> function:
y= a(1-r)^x
Here, a=150000, r = 0.07, and x=11. The value is predicted to be ...
y = 150000(1 -0.07)^11 = 150000(0.93^11) = 67,515.53
The house is worth about $67,516 in 2013.
