Thirty years ago, an average house cost $$120,000$ in Vancouver.

Now the average house price is $$950,000.$ Determine the annual

rate of growth in Vancouver's housing prices.

Multiple Choice

$7\mathrm{.}14\%$

$6\mathrm{.}25\%$

$4\mathrm{.}63\%$

$8\mathrm{.}31\%$

$5\mathrm{.}58\%$