Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per

Question

Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per year ever since then. If Russell sells his house, how much is it worth, to the nearest hundred dollars?
a.
$110,700
b.
$107,200
c.
$67,100
d.
$37,900

GPT-5 mini · Answer

Value = 141,000(1 − 0.016)^15 = 141,000(0.984)^15 ≈ 141,000(0.78510) ≈ 110,700.

Answer: a. $110,700

Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per year ever since then. If Russell sells his house, how much is it worth, to the nearest hundred dollars?
a.
$110,700
b.
$107,200
c.
$67,100
d.
$37,900

All Answers 1

Submit Your Answer

Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per year ever since then. If Russell sells his house, how much is it worth, to the nearest hundred dollars? a. $110,700 b. $107,200 c. $67,100 d. $37,900

All Answers 1

Submit Your Answer

Fifteen years ago, Russell bought his house for $141,000. The house’s property value has decreased by 1.6% per year ever since then. If Russell sells his house, how much is it worth, to the nearest hundred dollars?
a.
$110,700
b.
$107,200
c.
$67,100
d.
$37,900