Question

A home that was purchased for 125,000 increased in value by 14% over a 3 year period. What was it's value at the end of that period?

Answer 1

125,000 * 1.14 = ?

Answer 2

142,000...thanks. So, please correct me. If the way to converte percent to decimal is to divide by 100, how did you come up with 1.14 instead of 0.14

I think im just doing way to many decimals and my brain is fried :-)

Answer 3

We can never do "too many decimals." Think of money! <g>

Please run that through your calculator again. Mine says $142,500.

Since you want to know the house's total value after 3 years, you actually are looking for 114% of its current value.

114% = 1.14

You can do it the long way --

0.14 * 125,000 = 17,500
125,000 + 17,500 = 142,500

Answer 4

Thanks