At the start of 2014 Lucy house was worth £200000 the value of the house increased by 5% every year work out the value of her house at the start of 2017
To calculate the value of Lucy's house at the start of 2017, we need to find the value after three years of the 5% annual increase.
First, we find the value after one year: £200000 + (£200000 * 0.05) = £200000 + £10000 = £210000
Next, we find the value after two years: £210000 + (£210000 * 0.05) = £210000 + £10500 = £220500
Finally, we find the value after three years: £220500 + (£220500 * 0.05) = £220500 + £11025 = £231525
Therefore, the value of Lucy's house at the start of 2017 is £231,525.