Ask Question
9 March, 05:24

Mr. And Mrs. Sears bought a house in 1962 for $60,000. The house was appraised in 2003, and was valued at $435,000.

a. What is the annual rate of increase in the value of the house?

b. If the house was originally built in 1950, what was it valued at then? (Assume the same

rate applied year after year.)

+1
Answers (1)
  1. 9 March, 06:29
    0
    1962 - 2003 = 41 years

    In 2003 it's value increased to = $435,000

    $435,000 / 41 years

    Per year's value = $10,609.7561

    B. 1950 - 1960 = 12 years

    $60,000 / 12 years = $5000

    Value of the house @ 1950 = $5000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Mr. And Mrs. Sears bought a house in 1962 for $60,000. The house was appraised in 2003, and was valued at $435,000. a. What is the annual ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers