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A home was sold in 2010 for $250,000. Its value depreciated by 3.4% yearly. What is the value of the house in 2012?
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A home was sold in 2010 for $250,000. Its value

depreciated by 3.4% yearly. What is the value of the
house in 2012?

A home was sold in 2010 for $250,000. Its value depreciated by 3.4% yearly. What is-example-1
User Hemnath Mouli
by
4.1k points

2 Answers

4 votes

Answer:

$233,289

Explanation:

250000 *.034=8500

250000-8500=241,500

repeat

User Hexalys
by
4.4k points
1 vote

Depreciation formula: starting value x (1-rate)^time

250,000(1-0.034)^2 years

250000(0.996)^2= $233,289

The answer is $233,289

User Ritesh Sinha
by
3.7k points
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