SOLUTION: A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home after at the end of the year?

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Question 68059This question is from textbook
: A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home after at the end of the year? This question is from textbook

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home after at the end of the year?
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If it depreciated 8% it is worth 92% of the original price.
EQUATION:
0.92(300,000)=$276,000
Cheers,
Stan H.