Suppose that your parents have enough money to buy a car and a house. The car that they want to buy costs P 800,000.00 while the house costs P 3,000,000.00. According to economists, the depreciation rate of car is 15% annually while the appreciation rate of houses in the Philippines is 2.4% annually. If after 10 years they want to sell both, how much will be their money?

Suppose that your parents have enough money to buy a car and a house. The car that they want to buy costs P 800,000.00 while the house costs P 3,000,000.00. According to economists, the depreciation rate of car is 15% annually while the appreciation rate of houses in the Philippines is 2.4% annually. If after 10 years they want to sell both, how much will be their money?

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.S: Summary

Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?

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