A house was valued at $115,000 in the year 1995. The value appreciated to $175,000 by the year 2008. Use the compound interest formula S = P(1 + r) to answer the following questions. A) What was the annual growth rate between 1995 and 2008? T = 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 2011? value = $ Round to the nearest thousand dollars.
A house was valued at $115,000 in the year 1995. The value appreciated to $175,000 by the year 2008. Use the compound interest formula S = P(1 + r) to answer the following questions. A) What was the annual growth rate between 1995 and 2008? T = 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 2011? value = $ Round to the nearest thousand dollars.
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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