**Problem Statement:** A house was valued at $120,000 in the year 1986. The value appreciated to $175,000 by the year 2002. **Questions:** A) What was the annual growth rate between 1986 and 2002? - r = _________ (Round the growth rate to 4 decimal places) B) What is the correct answer to part A written in percentage form? - r = _________ % C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2006? - value = $_________ (Round to the nearest thousand dollars) **Additional Resources:** - Question Help: [Video 1] [Video 2] **Submit Question**

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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**Problem Statement:**

A house was valued at $120,000 in the year 1986. The value appreciated to $175,000 by the year 2002.

**Questions:**

A) What was the annual growth rate between 1986 and 2002?

- r = _________  (Round the growth rate to 4 decimal places)

B) What is the correct answer to part A written in percentage form?

- r = _________ %

C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2006?

- value = $_________  (Round to the nearest thousand dollars)

**Additional Resources:**

- Question Help: [Video 1] [Video 2] 

**Submit Question**
Transcribed Image Text:**Problem Statement:** A house was valued at $120,000 in the year 1986. The value appreciated to $175,000 by the year 2002. **Questions:** A) What was the annual growth rate between 1986 and 2002? - r = _________ (Round the growth rate to 4 decimal places) B) What is the correct answer to part A written in percentage form? - r = _________ % C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2006? - value = $_________ (Round to the nearest thousand dollars) **Additional Resources:** - Question Help: [Video 1] [Video 2] **Submit Question**
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