To calculate the value of Lucy's house at the start of 2017, we need to find the value after three years of the 5% annual increase.
First, we find the value after one year: £200000 + (£200000 * 0.05) = £200000 + £10000 = £210000
Next, we find the value after two years: £210000 + (£210000 * 0.05) = £210000 + £10500 = £220500
Finally, we find the value after three years: £220500 + (£220500 * 0.05) = £220500 + £11025 = £231525
Therefore, the value of Lucy's house at the start of 2017 is £231,525.
At the start of 2014 Lucy house was worth £200000 the value of the house increased by 5% every year work out the value of her house at the start of 2017
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