Question

In 1998, Linda purchased a house for

$144,000. In 2009, the house was worth
$245,000. Find the average annual rate of
change in dollars per year in the value of
the house. Round your answer to the
nearest dollar. (Let x=0 represent 1990)

Answer 1

The average annual rate of change in the value of the house is $9,182 per year. So, the average annual rate of change is $101,000 / 11 years = $9,181.81 per year.

Step-by-step explanation:

To find the average annual rate of change in the value of the house, we need to calculate the difference between the final value and the initial value, and then divide it by the number of years.

In this case, the initial value is $144,000 in 1998 and the final value is $245,000 in 2009.

The difference between the final value and the initial value is $245,000 - $144,000 = $101,000.

The number of years is 2009 - 1998 = 11 years.

So, the average annual rate of change is $101,000 / 11 years = $9,181.81 per year.

Rounded to the nearest dollar, the average annual rate of change in the value of the house is $9,182 per year.