Housing prices in a particular county have increased by 22.5% over the price of houses five years ago.(a) If $220,000 was the average price of a house five years ago, what is the average price (in $) of a house today?$(b) Economists predict that next year housing prices will drop by 5% in this area. Based on your answer from part (a), what willthe average price (in $) of a house be next year?$

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Housing prices in a particular county have increased by 22.5% over the price of houses five years ago. (a) If $220,000 was the average price of a house five years ago, what is the average price (in $) of a house today? 24 (b) Economists predict that next year housing prices will drop by 5% in this area. Based on your answer from part (a), what will the average price (in $) of a house be next year?

Housing prices in a particular county have increased by 22.5% over the price of houses five years ago. (a) If $220,000 was the average price of a house five years ago, what is the average price (in $) of a house today? 24 (b) Economists predict that next year housing prices will drop by 5% in this area. Based on your answer from part (a), what will the average price (in $) of a house be next year?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter6: Polynomials

Section6.2: Use Multiplication Properties Of Exponents

Problem 168E: Depreciation Once a new car is driven away from the dealer, it begins to lose value. Each year, a...

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