Question
The historic Virginia home that Confederate Gen.Robert E. Lee grew up in hit the market (in April 2018) for $8.5 million. (Trapasso, C.) Robert E.
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 that PresidentGeorge Washington also 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 boyhood home of Robert E. Lee in Alexandria was listed on the market with a significant price drop. Previously priced at $8.5 million, the six bedroom is available for $6.2 million (March 2019). (Leayman, E.)
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Assume that the growth rate you calculated in question #1 (7.035%) remains the same until the Stonewall Jackson Memorial Foundation purchased the home in 1966 andopened it to the public. What is the price of the house in 1966?
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