A house was valued at $95,000 in the year 1988. The value appreciated to $170,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1988 and 2007? Round the growth rate to 4 decimal places. r = B) What is the correct answer to part A written in percentage form? r = 3 %.
A house was valued at $95,000 in the year 1988. The value appreciated to $170,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1988 and 2007? Round the growth rate to 4 decimal places. r = B) What is the correct answer to part A written in percentage form? r = 3 %.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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![A house was valued at $95,000 in the year 1988. The value appreciated to $170,000 by the year 2007.
A) If the value is growing exponentially, what was the annual growth rate between 1988 and 2007?
Round the growth rate to 4 decimal places.
r =
B) What is the correct answer to part A written in percentage form?
r = 3
%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F760476ad-e7f5-4787-ab69-71e6f8e54049%2Fea1ee7c7-33db-41f2-b283-b206ab8f7eba%2Fg63azp_processed.png&w=3840&q=75)
Transcribed Image Text:A house was valued at $95,000 in the year 1988. The value appreciated to $170,000 by the year 2007.
A) If the value is growing exponentially, what was the annual growth rate between 1988 and 2007?
Round the growth rate to 4 decimal places.
r =
B) What is the correct answer to part A written in percentage form?
r = 3
%.
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