Question

at the start of 2014 lucys house was worth 200000. the value of the house is increased by 5% every year. work out the value of her house at the start of 2017

Answer 1

231525

Explanation:

2014 = 200,000

Start of 2015

200,000 x 1.05 = 210,000

Start of 2016

210 x 1.05 = 220,500

Start of 2017

220,000 x 1.05 = 231,525