A house was valued at $120,000 in the year 1994. The value appreciated to $170,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1994 and 2007? r = 0.026 X Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? r = 2.64 X%. C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010 ? value = $ 214880 X Round to the nearest thousand dollars. Question Help: Video 1 D Video 2 Submit Question
A house was valued at $120,000 in the year 1994. The value appreciated to $170,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1994 and 2007? r = 0.026 X Round the growth rate to 4 decimal places. B) What is the correct answer to part A written in percentage form? r = 2.64 X%. C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010 ? value = $ 214880 X Round to the nearest thousand dollars. Question Help: Video 1 D Video 2 Submit Question
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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I don’t get why I got this wrong please help
![**Problem Scenario:**
A house was valued at $120,000 in the year 1994. The value appreciated to $170,000 by the year 2007.
**Questions and Solutions:**
**A)** If the value is growing exponentially, what was the annual growth rate between 1994 and 2007?
- \( r = 0.026 \)
- Round the growth rate to 4 decimal places.
**B)** What is the correct answer to part A written in percentage form?
- \( r = 2.64 \% \)
**C)** Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010?
- value \( = \$214880 \)
- Round to the nearest thousand dollars.
**Additional Resources:**
- **Question Help:**
- ![Video 1](#)
- ![Video 2](#)
**User Interaction:**
- [Submit Question](#) (Button)
The image features a mathematical problem involving the exponential growth of house values, asking for the calculation of growth rate and future value predictions. No graphs or diagrams are present.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5253470b-a88a-44a2-95c4-a44ae3e11575%2F528c9e5a-75c9-4e07-9179-1da89183f185%2Fh2g8fa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Problem Scenario:**
A house was valued at $120,000 in the year 1994. The value appreciated to $170,000 by the year 2007.
**Questions and Solutions:**
**A)** If the value is growing exponentially, what was the annual growth rate between 1994 and 2007?
- \( r = 0.026 \)
- Round the growth rate to 4 decimal places.
**B)** What is the correct answer to part A written in percentage form?
- \( r = 2.64 \% \)
**C)** Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010?
- value \( = \$214880 \)
- Round to the nearest thousand dollars.
**Additional Resources:**
- **Question Help:**
- ![Video 1](#)
- ![Video 2](#)
**User Interaction:**
- [Submit Question](#) (Button)
The image features a mathematical problem involving the exponential growth of house values, asking for the calculation of growth rate and future value predictions. No graphs or diagrams are present.
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