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Real estate often increases in value over time. A parcel of land is purchased for $35 000. After 9 years, the land is sold for

Real estate often increases in value over time. A parcel of land is purchased for $35 000. After 9 years, the land is sold for $51 000. What is the average annual rate of change in the value of the real estate, as a percentage? (4 marks)

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