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natulia [17]
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?
Mathematics
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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Answer: x = 2921, y = 579

Step-by-Step Explanation:

I am assuming that we just have to Solve for ‘x’ and ‘y’.

‘x’ = No. Of Contemporary Titles
‘y’ = No. Of Classic Titles

=> x + y = 3500 (Eq. 1)
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Adding Eq. 1 and Eq. 2, we get :-

2x = 3500 + 2342
2x = 5842
x = 5842/2
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Therefore, x = 2921

Substitute value of ‘x’ in Eq. 1 :-

x + y = 3500
(2921) + y = 3500
y = 3500 - 2921
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Therefore, y = 579

Hence,
No. Of Contemporary Titles = 2921
No. Of Classic Titles = 579
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