A house purchased last year for $80,000 is now worth $96,000. Assuming that the value of the house continues to appreciate (increase) at the same rate each year, find the value 2 years from now.
2006-12-30 08:20:21 · 9 answers · asked by Lawanna D 1 in Science & Mathematics ➔ Mathematics
(96/80)^2 * 96 = 138.24
So the answer is $138,240.
2006-12-30 08:23:27 · answer #1 · answered by amateur_mathemagician 2 · 0⤊ 0⤋
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2016-12-15 04:47:12 · answer #2 · answered by kosakowski 3 · 0⤊ 0⤋
$138,240.
If it's worth $96,000 now, then $96.000 X 1.2 (20% gain) for first year = $115,200
2nd year would be $115,200 X 1.2 = $138.240
You have to factor in compounded value after year one, so you can't take $96,000 X 20% and just double that.
2006-12-31 04:28:39 · answer #3 · answered by ? 5 · 0⤊ 0⤋
last year = $80,000
actual year = $80,000 + 20% = $96,000
2 years from now = (96,000 + 20%) + 20% = $138,2400
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2006-12-30 08:23:10 · answer #4 · answered by aeiou 7 · 0⤊ 3⤋
rate=(96000/80000-1)=.2 or 20%
in 2 years at 20% (compounded annually)
Value=$96000*1.2^2=96000*1.44=$138,240
2006-12-30 08:24:17 · answer #5 · answered by yupchagee 7 · 0⤊ 2⤋
1st year it will be $115200.
$138240 at the end of two year
2006-12-30 08:26:06 · answer #6 · answered by Suhas 2 · 0⤊ 0⤋
96000-80000=16000
16000*2=32000
96000+32000=128000
2006-12-30 08:35:04 · answer #7 · answered by OK 3 · 0⤊ 2⤋
It should be $138,240.
2006-12-30 08:55:30 · answer #8 · answered by Kirashumo 2 · 0⤊ 0⤋
i think it should be 128,000 idk if i'm right!
2006-12-30 08:28:25 · answer #9 · answered by Anonymous · 0⤊ 2⤋