Answer:
The value of the house last year was of $335,714.29.
Step-by-step explanation:
Last year:
Last year the value of the house was x.
During the last year the value of your house decreased by 30%.
100 - 30 = 70%, and thus, the current value of the house is 70% of last year, that is, 0.7x.
$235,000 today, what was the value of your house last year?
Thus:
[tex]0.7x = 235000[/tex]
We solve for x, so:
[tex]x = \frac{235000}{0.7} = 335714.29[/tex]
The value of the house last year was of $335,714.29.
