A house is bought for £150,000 at the start of 2005. For 3 years it loses 10% of its original value per year. After this time it loses 10% per year. What was its value at the end of 2011/start of 2012?
Original value = 150,000 10% original value =15,000 After 3 years year is 2008, house value = 150,000 - 3*(15,000) = 105,000Until start of 2012 from start of 2008, so 4 years of compound intrest. New value of house = 105,000 * (0.90)^4 = £68890.5
HF
Related Maths GCSE answers
All answers ▸Solve x^2+2x-4, leaving your answer in the simplist surd form. (4marks)
Two dice are thrown at the same time. What is the probability that the sum of the numbers on the dice is greater than 7?
The mean of 4 numbers is 8 when a 5th number is added the mean becomes 10, what is the 5th number?
Julia wants to buy a new computer. 20% VAT is added to the price of the computer so that she now has to pay £300. What was the original price of the computer without VAT.