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Hello, I was able to solve till this point below. Please explain how to solve this problem using the financial calculator. Use the formula: FV=P(1+r/100)^n
Hello, I was able to solve till this point below. Please explain how to solve this problem using the financial calculator.
Use the formula: FV=P(1+r/100)^n where FV=future value P=present value r=rate of interest n=time period.
1.
27558=21808*(1+r/100)^7
(27558/2180808)^(1/7)=(1+r/100)
how do I input this into the financial calculator and what is next? Thanks
According to the Census Bureau, in October 2016, the average house price in the United States was $27,558. 7 years earlier, the average price was $21,808. What was the annual increase in the price of the average house sold? Multiple Choice 0 4.08% 0 3.74% 3.40% -3.29% 0 3.06%Step by Step Solution
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