SOLUTION: The value of a property declines every year by 5%. presently it's value is $350,000. What will be its value 4 years from now?

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Question 635205: The value of a property declines every year by 5%. presently it's value is $350,000. What will be its value 4 years from now?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

The value of a property declines every year by 5%. 

(each year ...worth 95% of previous year's value)

 presently it's value is $350,000.

+a%5B4%5D+=+350000%28.95%29%5E4 = $297,271.30