2. Assume that the growth rate you calculated in question #1 prevailed since Robert E. Lee's father Henry rented the home in 1812. Calculate the price of the house in 1812. (Round the number of years to the whole number). (TIP: To get the answer correctly you need to use the price of the house in your calculations in dollars with all zeros). Please show your work.

1812 PRICE: value of the house in 2020/ (1+g)^(2020-1812) 1812 PRICE: 8500000/(1+0.0630)^ 208 1812 PRICE: 8500000/ 330307.9456 1812 PRICE: $25.73

3. You were using the time value of money concept to answer question #2. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.