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A house was valued at $115,000 in the year 1993. The value appreciated to $150,000 by the year 2005. Use the compund interest formula S
A house was valued at $115,000 in the year 1993. The value appreciated to $150,000 by the year 2005. Use the compund interest formula S = P(1 + r)t to answer the following questions. A) What was the annual growth rate between 1993 and 2005'? r = 0.0424 3: Round the growth rate to 4 decimalplaces. B) What is the correct answer to part A written in percentage form? r= 2.24 v a' %. C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010 '2 value = '5 161692 at Round to the nearest thousand dollars
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