Assume that in January 2020, the average house price in a particular area was $271,000. In January 1998, the average price was $193,000. Whaț was the annual increase in the price of the average house sold?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section5.A: Continous Compounding And Discounting
Problem 1P
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Assume that in January 2020, the average house price in a particular area
was $271,000. In January 1998, the average price was $193,000. Whaț was
the annual increase in the price of the average house sold?
Transcribed Image Text:Assume that in January 2020, the average house price in a particular area was $271,000. In January 1998, the average price was $193,000. Whaț was the annual increase in the price of the average house sold?
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