48 Real Estate Mike and Ellen Horton bought their house in 1

48. Real Estate Mike and Ellen Horton bought their house in 1986 for $63,400. Twenty-five years later, in 2011, their house was worth 5 times what they paid for it. How much was Mike and Ellen\'s house worth in 2011

Solution

48) price of house in 1986 = $ 63,400

in 2011 it was 51/2 times what they paid

therefore, finding 5 1/2 of 63400

5.5 * 63400 = $ 348700

so, Mike nd Ellens house in 2011 = $ 348700