Thirty years ago, Mr. and Mrs. Lopez purchased a house. On average, the value of the house has doubled every 6 years. If the house is worth $320,000 today, what did they pay for it 30 years ago?
(A)$5,000
(B)$10,000
(C)$64,000
(D)$160,000
(E)$320,000*2^5
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truplayer256
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Let the price that Mr. and Mrs. Lopez spent on the house be represented by the variable x. Then,
2x- 6 years later
4x-12 years later
8x-18 years later
16x-24 years later
32x-30 years later
32x=320000
x=10,000
2x- 6 years later
4x-12 years later
8x-18 years later
16x-24 years later
32x-30 years later
32x=320000
x=10,000
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herbalsejagat
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Scott@TargetTestPrep
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If the value of the house doubles every 6 years, then the value of the house is halved compared to its value 6 years ago. Since the house is worth $320,000 today,
6 years ago, it was worth $160,000.
6 more years ago (or 12 years ago), it was worth $80,000.
6 more years ago (or 18 years ago), it was worth $40,000.
6 more years ago (or 24 years ago), it was worth $20,000.
Finally, 6 more years ago (or 30 years ago), it was worth $10,000, so they paid $10,000 for the house.
Answer: B
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