Jefe8005 Jefe8005

18-09-2018
Mathematics

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The value of a house depreciates by 8% per year. Work out the current value of a house bought 2 years ago for £180000

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jimrgrant1 jimrgrant1

18-09-2018

₤ 152352

depreciation factor = 100 - 8 = 92% = 0.92

current value = ₤ 180000 × (0.92)² = ₤ 152352

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