Question 8501: 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?
Would someone help me out on this one i am stuck...thanks so much
Answer by DoodleBopper(4)   (Show Source):
You can put this solution on YOUR website! What you need to do is find Out how much 8 percent of 300000 is.
I like to use the 'Z' Table method.
What you do is Set up 2 fractions, One to represent 8% and one to represent what you are trying to find (X).
 and  to represent 100 %. You then want to move in a 'Z' motion starting from X. The First Line you make from X to 8 represents an equal sign. The Diagonal line you make from 8 to 300000 represents a Multiply sign. The last line you make from 300000 to 100 represents a division sign. You will end up with the equation: X = 8 x 300000 / 100. By Solving this equation, you will end up with an answer, which is 24000. We now know 24000 is 8 percent of 300000, so subtract 24000 from 300000, and the answer will be 276,000, The Value of the house. Remember, Any Time you need to find how much a percent is of a number, use the 'Z' Table method.
Doodlebopper
|
|
|
