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At the start of 2014 lucy’s House was worth £200,000. the value of the house increased by 5% every year . Work out the value of her house at the start of 2017That’s the start of 2014 Lucy’s house was worth £200,000 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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arefinking10

Answer:

£231,525

Step-by-step explanation:

In this question you have to do compound interest.

First Year:

5/100× £200,000

= £10,000

Second Year:

5/100×£210,000

= £10,500

Third Year:

5/100×£220,500

= £11,025

£200,000+£10,000+£10,500+£11,025

= £231,525

2017= £231,525

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