FINANCE

The value of a house is increased by 20% of the previous year's value in each of the last 4 years. If, 4 years ago, the value of the house is $100 000, what's the value now?

Pls show full working out ty :)

$207,360

Full explanation: To start, you need to 20% of 100,000.

I usually do this by finding 10% and then doubling it, so divide by 10 (because 100% needs to be divided by 10 to get 10%), giving 10,000 and the double it, 20,000.

Then add this value to your original number, 120,000.

That is the first year.

Then you need to do this again, so this time 12000, doubled, 24,000.

Then add this to your second number, 144,000.

Again, 14,400, doubled 28,800, added to your third number, 172,800. This is the third year, so one more.

17,280, doubled, 34,560, added to your other number, 207,360.

This means your final value, after 4 years, is $207,360.

Hope this helps :)