SOLUTION: I am stuck on a word problem and would appreciate any help. An appraiser reports that Harolds house has lost 15% in value since he originally purchased the house. The apprais

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Question 408220: I am stuck on a word problem and would appreciate any help.
An appraiser reports that Harolds house has lost 15% in value since he originally purchased the house. The appraiser valued his house at $185,500. Set up and solve a linear equation to find how much the house was purchased for ten years ago.


Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!


Hi

Let x represent the value of house when he originally purchased the house

Question states***

(note: Now valued at 85% of the original value is the same as having lost 15%)

 .85x = $185,500

Solving for x

    x = $218,235.30

CHECKING our Answer***

218,235.30 -.15*$218,235.30 = $185,500 

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