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Problem 5-8 Calculating Interest Rates [LO3] Assume that in January 2013, the average house price in a particular area was $293,400. In January 2001, the

Problem 5-8 Calculating Interest Rates [LO3]

Assume that in January 2013, the average house price in a particular area was $293,400. In January 2001, the average price was $210,300.

What was the annual increase in selling price? (Do not round intermediate calculations. Enter your answer as a percent rounded answer to 2 decimal places, e.g., 32.16.)

Annual increase in selling price

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