SOLUTION: Carlo bought a house for $175000.His realestate agent told him that houses in the neighborhood appreciate in value by $5500 annually. When could he sell the house for at least twi
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Question 159433: Carlo bought a house for $175000.His realestate agent told him that houses in the neighborhood appreciate in value by $5500 annually. When could he sell the house for at least twice the purchase price? Answer by jojo14344(1513) (Show Source):
You can put this solution on YOUR website!
He wants to sell the house at a price: $175,000*2=$350,000 (at least twice the purchase price.
Remember eqn:
Purchase Price+n(5500)=Selling Price,
where n= no. of years , let say before selling it.
THANK YOU,
Jojo
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