A home purchassed for $300,00 depreciated 8% over a 1year period. What was the value of th home after at the end of the year?
thanks
2007-01-13 16:43:01 · 11 answers · asked by dee free 2 in Science & Mathematics ➔ Mathematics
The value at the end of the first year is $276,000.
(You shouldn't forget that it started out as $300,000! At least, I HOPE that you meant $300,000. You WROTE $300,00 --- which either has a misplaced "," or was perhaps meant to be $30,000. The latter would hardly get you a garden shed where I live, so I presume that you simply didn't type the last "0". Amusingly, if you're from the European continent --- as distinct from Great Britain and Ireland --- "$300,00" would mean just "$300", since they use "," where the U.S., Great Britain etc. use "." to denote the decimal point! That would get you a fairly nice doll's house. So the first responder's answer would be fine in the nursery.)
Here's the argument for first year depreciation on a home originally purchased for $300,000:
The depreciation was 8% (or a fraction 0.08) in the first year.
You can therefore either subtract 8% (i.e. $24,000) from the original $300,000, OR multiply $300,000 by 0.92 (= 1.00 - 0.08) to find the remaining value after 1 year. 0.08 is a slightly easier number to work with than 0.92; that's why subtracting the $24,000 is perhaps marginally preferred, as a method. But the answers are of course the same, no matter which way you choose to do it.
Live long and prosper --- without depreciation!
2007-01-13 16:48:53 · answer #1 · answered by Dr Spock 6 · 1⤊ 0⤋
Since it depreciated 8% it is now worth 92% of its former value.
S0 92% of 300,000 = .92*300000 = $276,000
2007-01-13 16:49:26 · answer #2 · answered by ironduke8159 7 · 1⤊ 0⤋
2x + 2y = 20 utilising the simultaneous approach 2x - 2y = 4 ____________ 4x = 24 ( divide by technique of four) x = 6 change x in between both equations 2x + 2y = 20 2 (6) + 2y = 20 12 +2y = 20 2y = 20 - 12 2y = 8 (divide by technique of two) y = 4 answer : X = 6 , Y = 4
2016-11-23 17:10:14 · answer #3 · answered by bleimehl 4 · 0⤊ 0⤋
I think you left out a zero & meant $300,000
8%=8/100=.08
.08*300,000=24000
$300,000-$24,000=$276,000
2007-01-13 20:53:25 · answer #4 · answered by yupchagee 7 · 0⤊ 0⤋
Wait first of all is that price $300,000 or $30,000....anyways if it was 300,000 it would be 300,000 * .08 = 24,000 then you would subtract $24,000 from $300,000 and that would equal $276,000 ...and if it was $30,000 than it would be 30,000 * .08 = 2,400 then you would subtract 2,400 from 30,000 which would equal $27600 .
2007-01-13 17:01:17 · answer #5 · answered by WK 3 · 0⤊ 0⤋
depreciation is degrading of value
300 - 0.08*300 = $ 276
2007-01-13 16:50:40 · answer #6 · answered by kimjay_lmr01 1 · 0⤊ 0⤋
300,000 - 300,000*8/100 = 276,000 $
2007-01-13 16:50:50 · answer #7 · answered by Anonymous · 1⤊ 0⤋
$276,000 only if you left out a zero!
Hope That Helps!
2007-01-17 14:07:12 · answer #8 · answered by Anonymous · 0⤊ 0⤋
276
if i understood correctly
300*(1-.08)
2007-01-13 16:47:46 · answer #9 · answered by Anonymous · 1⤊ 0⤋
300.00 x 0.08=24
300.00 - 24 = 276.00
2007-01-13 16:49:36 · answer #10 · answered by ilovehorses 2 · 0⤊ 0⤋