SOLUTION: A home purchased for $400,000 depreciated 8% over a 1-year period. What was the value of the home at the end of the year?

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Question 127656: A home purchased for $400,000 depreciated 8% over a 1-year period. What was the value of the home at the end of the year?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Value = 400000+-+.08%2A400000
Value = 400000%281+-+.08%29
Value = 400000%2A.92
Value = 368000 answer