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You buy a house for $230,000. It depreciates 3% per year. How much is it worth in 5 years? a. Write the equation. b. Solve the problem.

You buy a house for $230,000. It depreciates 3% per year. How much is it worth in 5 years? a. Write the equation. b. Solve the problem.
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9 votes
You buy a house for $230,000. It depreciates 3% per year. How much is it worth in 5 years?

a. Write the equation.
b. Solve the problem.

asked
User Anjali Bhimani
by
7.9k points

1 Answer

13 votes
I honestly don’t know the equation but I just took the starting price, $230,000 and multipled it by .03 which was 6,900 and subtracted that from 230,000: 223,190. I repeated that 5 times. The answer I got is 197,508.83
answered
User Sunil Sharma
by
8.3k points
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