A house was valued at $100,000 in the year 1985. The value appreciated to $160,000 by the year 2000. Use the compound interest formula S = P(1 + r)' to answer the following questions. A) What was the annual growth rate between 1985 and 2000? Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2004 ? value = $ Round to the nearest thousand dollars. Submit Question

A house was valued at $100,000 in the year 1985. The value appreciated to $160,000 by the year 2000. Use the compound interest formula S = P(1 + r)' to answer the following questions. A) What was the annual growth rate between 1985 and 2000? Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2004 ? value = $ Round to the nearest thousand dollars. Submit Question

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...

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