SOLUTION: A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home after at the end of the year?
A) $272,000 B) $274,000 C) $276,000
Algebra.Com
Question 92579: A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home after at the end of the year?
A) $272,000 B) $274,000 C) $276,000 D) $278,000
Answer by uma(370) (Show Source): You can put this solution on YOUR website!
Purchase value of the home = $300,000
Depreciation = 8%
So value of the home after 1 year = 92% of 300,000
= 0.92 * 300,000
= $276,000
The right choice is (C)
Good Luck!!!
RELATED QUESTIONS
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by Nate)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of... (answered by checkley71)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by Nate)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by stanbon)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of... (answered by jim_thompson5910,checkley71)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by Nate)
A home purchased for 300,000 depreciated 8% over a 1 year period. What was the value of... (answered by Nate)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by checkley75)
A home purchased for $300,000 depreciated 8% over a 1-year period.
What was the value... (answered by Annabelle1)
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of (answered by bucky)