In the year 1985, a house was valued at $104,000. By the year 200S, the value had appreciated to$148,000. What was the annual growth rate between 1985 and 2005? Assume that the value contimuedto grow by the same percentage. What was the value of the house in the year 2010?Round your answers to two decimal places.The annual growth rate between 1985 and 2005 isNnbetThe value of the house in the year 2010 isNnber

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Answered: In the year 1985, a house was valued at…

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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Nicolas deposited $800 into an account that pays 3.48% annual interest compounded quarterly. The balance in the account after 15 years was $1345.28? What was the overall percent increase in the account balance from the initial deposit at the end of 15 years? Input the number followed by the percent sign. Do not put a space between the number and the percent sign. Round to the nearest hundredth of a percent if necessary? Example: 43.57%
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