Question
. (1) Five years ago, the medium housing price at Los Angeles county was $350,000, and it is $540,000 now. How much is the annual
. (1) Five years ago, the medium housing price at Los Angeles county was $350,000, and it is $540,000 now. How much is the annual compounded growth rate in housing price?
(2) In the previous question, if the housing price will increase at the same growth rate in the following 3 years, what will be the medium housing price at Los Angeles county after 3 years? Show your calculations
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
14th Edition
1264101597, 9781264101597
