A house was valued at $120,000 in the year 1993. The value appreciated to $155,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1993 and 2007? 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 2012 ? value = $ Round to the nearest thousand dollars. Question Help: D Video 1 D Video 2 Message instructor D Post to forum Submit Question
A house was valued at $120,000 in the year 1993. The value appreciated to $155,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1993 and 2007? 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 2012 ? value = $ Round to the nearest thousand dollars. Question Help: D Video 1 D Video 2 Message instructor D Post to forum Submit Question
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 3SE: The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but...
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Transcribed Image Text:A house was valued at $120,000 in the year 1993. The value appreciated to $155,000 by the year 2007.
A) If the value is growing exponentially, what was the annual growth rate between 1993 and 2007?
Round the growth rate to 4 decimal places.
%3D
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 2012 ?
value = $
Round to the nearest thousand dollars.
Question Help: Video 1 Video 2
Message instructor O Post to forum
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