At the start of 2014 lucy's House was worth £200,000. the value of the house increased by 5% every year. Work out the value of her house at the start of 2017That's the start of 2014 Lucy's house was worth £200,000 the value of the house increased by 5% every year work out the value of her house at the start of 2017

Question

Mathematics

Ronan Osborne

4 October, 06:03

At the start of 2014 lucy's House was worth £200,000. the value of the house increased by 5% every year. Work out the value of her house at the start of 2017That's the start of 2014 Lucy's house was worth £200,000 the value of the house increased by 5% every year work out the value of her house at the start of 2017

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Answers (2)

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Mcdowell · Answer 1

By the end of 2014, the value was 210,00

By the end of 2015, the value was 220,00

By the end of 2016, the value was 230,00

Lastly, by the end of 2017, the value was 240,000

Ross Wise · Answer 2

At start of 2017 house worth = $231,525

Step-by-step explanation:

To find the new value worth of the house in each year, you add the increase in worth of house in the preceding year and the worth of the house in the preceding year. How do I learn

At start of 2014 house worth = $200,000

At start of 2015 house worth = 2014 house worth + 5% of 2014 house worth

At start of 2015 house worth = $200,000 + 5% of 200,000

= 200,000 + 5/100 * 200,000

= 200,000 + 10,000 = $210,000

At start of 2015 house worth = $210,000

At start of 2016 house worth = 2015 house worth + 5% of 2015 house worth

At start of 2016 house worth = $210,000 + 5% of 210,000

= 210,000 + 5/100 * 210,000

= 210,000 + 10,500 = $220,500

At start of 2016 house worth = $220,500

At start of 2017 house worth = 2016 house worth + 5% of 2016 house worth

At start of 2017 house worth = $220,500 + 5% of 220,500

= 220,500 + 5/100 * 220,500

= 220,500 + 11,250 = $231,525

At start of 2017 house worth = $231,525