SOLUTION: 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 y

Algebra ->  Sequences-and-series -> SOLUTION: 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 y      Log On


   

Question 300351: 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?

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Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
R=96000/80000=1.2
Next year, it would be worth 96,000(1.2)=$115,200.
Then the year after,would be 115200(1.2)=$138,240.