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A house was valued at $125,000 in the year 1987. The value appreciated to $150,000 by the year 2005. Use the compound in
Posted: Mon Jul 11, 2022 10:42 am
by answerhappygod
- A House Was Valued At 125 000 In The Year 1987 The Value Appreciated To 150 000 By The Year 2005 Use The Compound In 1 (47.9 KiB) Viewed 34 times
A house was valued at $125,000 in the year 1987. The value appreciated to $150,000 by the year 2005. Use the compound interest formula S = P(1 + r)t to answer the following
questions. A) What was the annual growth rate between 1987 and 2005? r = places. Round the growth rate to 4 decimal B) What is the correct answer to part A written in percentage form? %. T = C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2008? value = $ dollars. Round to the nearest thousand