A house was valued at $100,000 in the year 1991. The value appreciated to $175,000 by the year 2002. A) If the value is growing exponentially, what was the annual growth rate between 1991 and 2002? `r` = Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? `'r' %. = C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2005 ? value = $ Round to the nearest thousand dollars.

A house was valued at $100,000 in the year 1991. The value appreciated to $175,000 by the year 2002. A) If the value is growing exponentially, what was the annual growth rate between 1991 and 2002? `r` = Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? `'r' %. = C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2005 ? value = $ Round to the nearest thousand dollars.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...

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