A couple purchases a home in 1998 for $45,000 and finds that today in 2017 it is worth $95,000. They consider this a very good investment of their money since they more than doubled their money. Are the correct? What rate did they earn compounded annually?

(Consider that inflation averages about 3% a year when deciding if this is a good investment or not. Also, to make the calculation less complicated, assume that the date of purchase in 1998 was about the same day as today's date- i.e , no need to consider partial years