Housing prices in a particular county have increased by 25% over the prce of houses five yoars ago (a) 5260,0000 was the average price of a house five years ago, what is the average prce ( ) of a house today? (b) Economists predict that nest year houning prices will drop by 5 in thes area Based on vour answer from part (a), what will the average pnice (in 3) of a house be next year

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Housing prices in a particular county have increased by 25Sover the prce of houses five yar ago.
ta) 5260.000 was the average price of a house fve vears ago, what is the average pnce (n $) of a house today?
(b) Economists predict that next year housing prices wi dcop by S in this area. Hased on vour answer from part (a), what wil thie average pnce tin s) of
ahouse be next year?
Transcribed Image Text:Housing prices in a particular county have increased by 25Sover the prce of houses five yar ago. ta) 5260.000 was the average price of a house fve vears ago, what is the average pnce (n $) of a house today? (b) Economists predict that next year housing prices wi dcop by S in this area. Hased on vour answer from part (a), what wil thie average pnce tin s) of ahouse be next year?
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