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19-07-2016
Mathematics

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The Mendes family bought a new house 11 years ago for $119,000. The house is now worth $176,000. Assuming a steady rate of growth, what was the yearly rate of appreciation? Round your answer to the nearest tenth of a percent (1.2% etc)

Respuesta :

timveck timveck

19-07-2016

3,6%, as the growth factor is 1,036.
11√(176,000/119,000) ≈ 1,036.

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