Can you look at each question, see my answer are correct, can you give the correct answer with an explanation,formulas.

Gen. Robert E. Lee's Boyhood Home is for Sale

The historic Virginia home that ConfederateGen.Robert E. Leegrew up in hit the market in April 2018 for $8.5 million. (Trapasso, C.)

Robert E. Lee's father Henry rented the home in 1812, according to The Washington Post. The family lived there for over 80 years, including Robert E. Lee from age five to when he went to West Point in 1825. He again visited five years after the Civil War ended, The Post reported. (Leayman, E.)

The home's other claim to fame is thatPresidentGeorge Washingtonalso dined and lodged there before the Lee family moved in. (Trapasso, C.)

Built in 1795, the brick house was listed on the National Register of Historic Places in 1986. (Trapasso, C.)

The home had been used as a residence until 1966. The Stonewall Jackson Memorial Foundation purchased the home andopened it to the public. Unable to make ends meet, the foundation sold the home in 2000 toMark and Ann Kingtonfor $2.5 million. (Trapasso, C.)

The childhood home of Robert E. Lee that was listed in April 2018 for $8.5 million dollars, was sold in July 2020. Public records show it sold for almost half the original asking price at $4.7 million. (Alexandria Living Magazine.)

References

Alexandria Living (2020, July 24). After Two Years on the Market, Robert E. Lee's Boyhood Home Sells for $4.7 Million, fromhttps://alexandrialivingmagazine.com/home-and-garden/after-two-years-on-the-market-robert-e-lee%E2%80%99s-boyhood-home-se/

Zap, Claudine (2019, October 4). Price of General Robert E. Lee's boyhood home slashed to $5.6 million, fromhttps://www.foxnews.com/real-estate/general-robert-e-lees-home-5-6-million

Trapasso, C. (2018, April 3). Own Some Civil War-Era History: Gen. Robert E. Lee's Boyhood Home is for Sale, fromhttps://www.realtor.com/news/unique-homes/general-robert-e-lees-boyhood-home-sale/

Leayman, E. (2019, March 26). Robert E. Lee Boyhood Home Listed for Reduced Price. Retrieved April 2, 2019, fromhttps://patch.com/virginia/oldtownalexandria/robert-e-lee-boyhood-homes-listed-reduced-price

*****************************************************************************

1. Calculate the annual compound growth rate of the house price since the house was sold toMark and Ann Kington(since 2000) until the house was sold in July 2020. (The growth rate should be calculated totwo decimals in percentage form. Round the number of years to the whole number).Please show your work.

Answer:

2018 = 8.5 Million

2000 = 2.5 Million

2000 - 2018 = 18

CAGR = (8.5/2.5) ^ (1/18) - 1

CAGR = 3.4 ^ (0.056) - 1

CAGR = 1.0709 - 1

CAGR = 0.0709

CAGR = 7.09%

The compounded annual growth rate is 7.09%

1. 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.

Answer:

price of the house in 1812= value of the house in 2018 / (1 + g) ^ (2018 - 1812)

price of the house in 1812= 8500000 / (1 + 0.0709) ^ 206

price of the house in 1812= 8500000 / 1343622.36678

Price of the house in 1812 = $6.33

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

Answer:

price of the house in 1795 = value of the house in 2018 / (1 + g) ^ (2018 - 1795)

price of the house in 1795 = 8500000 / (1 + 0.0709) ^ 223

price of the house in 1795 = 8500000 / 4305353.74288

Price of the house in 1795 = $1.97

1. Assume the growth rate that you calculated in #1 prevailed since 1795. Calculate the price of the house in 1795. (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.

1. Assume that the growth rate you calculated in question #1 remains the same until the Stonewall Jackson Memorial Foundation purchased the home in 1966 andopened it to the public. Calculate the price of the house in 1966. (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.

Answer:

Price of the house in 1966 = value of the house in 2018 / (1 + g) ^ (2018 - 1966)

Price of the house in 1966 = 8500000 / (1 + 0.0709) ^ 52

Price of the house in 1966 = $241,254.35

6.In 2018, the listed price of the house was $8.5 million. In July 2020 the house was sold to $4.7 million. Calculate the compound rate of this reduction in price. (The rate should be calculated to two decimals. Round the number of years to the whole number).Please explain your answer.

Answer:

Value on 2018 = 8,500,000

Value on 2019 = 6,500,000

Years 2018 - 2019 = 1

CAGR = (6500000 / 8500000) ^ (1/1) - 1

CAGR = 0.76470588235 ^ (1/1) - 1

CAGR = -23.53%

There is a negative (loss) on the compound rate that correlates to the drop-in price from $8.5 to $6.5 million.

7.Reflection - the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace or in everyday life.

This # 2 Discussion I am totally lost/ confused on question 2 and 3 as the math checks, the answer is somehow lower.