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3 years ago

13

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 hous

e is currently valued at $456,996, what was it worth when it was purchased?

1 answer:

Kamila [148]3 years ago

7 0

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

1.2% of 456996 is 5483.952

$5483.952 \times 20 = 109679.04$

So:

$456996 - 109679.04 = 347316.95$

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