​ 2000, the median home price in a certain city was about ​$300,000​, and from 2000 to​ 2006, home prices in this city rose at an average rate of about 10.2​% per year. If prices had continued to rise at that​ rate, what would the median home price have been in 2018​? Compare to the actual median price of about​ $400,000 in 2018.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 5CST
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Question

In​ 2000, the median home price in a certain city was about

​$300,000​,

and from 2000 to​ 2006, home prices in this city rose at an average rate of about

10.2​%

per year. If prices had continued to rise at that​ rate, what would the median home price have been in

2018​?

Compare to the actual median price of about​ $400,000 in

2018. 

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