Ask Question
8 December, 12:09

The Mendes family bought a new house 11 years ago for $119,000. The house is now worth $176,000. Assuming a steady rate of growth, what was the yearly rate of appreciation? Round your answer to the nearest tenth of a percent (1.2% etc)

+1
Answers (1)
  1. 8 December, 12:20
    0
    3,6%, as the growth factor is 1,036.

    11√ (176,000/119,000) ≈ 1,036.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The Mendes family bought a new house 11 years ago for $119,000. The house is now worth $176,000. Assuming a steady rate of growth, what was ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers