Question

A house is purchased for $375,000 & has gained 12% for the last 5 years. what is it worth now ?

Answer 1

$600,000 is your answer.

Explanation:

What you do is multiply.

$375,000 x 12% x 5 = 225,000

$375,000 + 225,000 = $600,000 is your answer.

The house is now worth $600,000