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# At the start of 2014 lucy's house was worth £200,000 the value of the house increases by 5% each year work out the value of her house at the start of 2017?

Assuming this is compound interest An increase of 5% gives you 105% each year which is 1.05 As we start at 200000 we multiply this by 1.05 each year 200,000 *1.05 * 1.05 * 1.05= 200,000* 1.05³= 231,525 If this is simple interest then it would be 200,000+ 10000*3= 230000

Lauren Holland
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