At the start of the 2014 Lucy's house was worth 200,000.The value of the house increased by 3% every year. What is the value of the house in 2017.
1 answer:
Answer:
$182534.5
Step-by-step explanation:
Step one:
given data
In 2014 Lucy's house was worth 200,000
The value of the house increased by 3% every year
Time period = 3 years
Step two:
let us find the value after 3 years
Year one
value= 200000- 0.03*200000
value= 200000-6000
value= 194000
Year two
value= 194000- 0.03*194000
value= 194000-5820
value= 188180
Year three
value= 188180- 0.03*188180
value= 188180-5645.4
value= $182534.5
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