QUESTION 7 Read the situation below and determine whether it is linear or exponential. If linear, find and interpret the rate of change. If exponential, find and interpret the percent change. Approximate if needed. The common ratio for the home prices in an Austin neighborhood is 1.08 every year for the past five years. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).

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A: A detailed solution is given below.

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