A house purchased for $171037 is worth $66403 after 15 years. Assuming that the house's value depreciated steadily from year to year, what was it worth at the end of year 5? Round the answer to the nearest cent

A house purchased for $171037 is worth $66403 after 15 years. Assuming that the house's value depreciated steadily from year to year, what was it worth at the end of year 5? Round the answer to the nearest cent

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

See similar textbooks

Similar questions

An investor deposits 3,500 into an account paying 8% compunded semiannually. Two years later she deposited $1,400 into the same account. How much money was there at the end of 7 years? Round your answer to the nearest cent. At the end of 7 years the account will have $
A vehicle purchased for $29800 depreciates at a constant rate of 5%. Determine the approximate value of the vehicle 11 years after purchase.
You have an opportunity to purchase a bond that will pay out $734 in 14 months. If you would like to earn at least a 2.4% annual rate of simple interest on your investment, what is the largest amount the you should pay for the bond? Round your answer to the nearest cent.
$5000 is invested at 4% interest compounded monthly. Find the account balance after 5 years, to the nearest dollar
The present value of $1500 in 6 months at 5% simple interest rate is $ Round answer to the nearest cent. No comma. No $ sign.
the smiths brought a apartment for 75000. assuming that the value of the apartment will appreciate at most 4.3% a year, how much will the apartment be worth in 7 years
If $600 is invested for 31 months at a simple interest rate of 3.5% per year, how much interest is earned? Round your answer to two decimal places if rounding is necessary
Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra $25,000 over the next 5 years. What amount must be deposited quarterly into an account that earns 4.2% interest in order to reach your goal? Round your answer to the nearest cent, if necessary.
An investment of $4,500 was deposited into an account that pays 7% annual interest. How much money will be in the account 8 years from now? Round your answer to the nearest cent.
If $17,000 is invested at 6% compounded monthly, what is the amount after 6 years? The amount after 6 years will be $. (Round to the nearest cent.) nCwer in the answer box.
Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra $21,000 over the next 3 years. What amount must be deposited quarterly into an account that earns 5.4% interest in order to reach your goal? Round your answer to the nearest cent, if necessary.
A loan in the amount of $454 is charged simple interest at an annual rate of 8.6%. How much money is owed 7 months after the loan was made? Round your answer to the nearest cent.