#16

In 2000, the median home price in a certain city was about $320,000, and from 2000 to 2006, home prices in this city rose at an average rate of about 10.6% per year. If prices had continued to rise at that rate, what would the median home price have been in 2018? Compare to the actual median price of about $400,000 in 2018. The median home price would be approximately $ | million in 2018. (Round to two decimal places as needed.) The actual median home price is the median home price calculated using 10.6% growth rate. Submit quiz C esc S o @ N U y W e tab K h