SOLUTION: The value of a property declines every year by 6%. Presently, its value is 450,000. What will be its value 2 years from now?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: The value of a property declines every year by 6%. Presently, its value is 450,000. What will be its value 2 years from now?      Log On


   

Question 251452: The value of a property declines every year by 6%. Presently, its value is 450,000. What will be its value 2 years from now?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
Since it is only two years we can easily calculate it.
n one year it will be worth 100-6=94%
.94*450,000
the next year
.94*(.94*450,000)