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

a. $110,700

Step-by-step explanation:

It decreases every year by 1.6%, so each year, the house is worth 98.4% of what it was last year.  We can use exponential decay to model this situation.

y = 141,000(0.984)^x      

98.4% is 0.984 as a decimal, the 'x' represents the number of years.  

After 15 years, the value is...

y = 141,000(0.984)^15

      y = $110,699.48 or $110,700 rounded to the nearest hundred dollars

  lol