Register
The Mendes family bought a new house 6 years ago for $104,000. The house is now worth $177,000. Assuming a steady rate of growth, what was the yearly rate of appreciation? Round your answer to the nearest
171k views
2 votes
The Mendes family bought a new house 6 years ago for $104,000. The house is now worth $177,000. 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)

Answer:

User Lurks
by
8.6k points

1 Answer

3 votes
Well, the house grew 73 k throughout the 6 years, so it grew around 12.16 k each year. 12.16/104= approximately 11.6923%
Rounded to the nearest 1/10 of a percent, it's 11.7%
User Nikita Chernov
by
9.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!