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In a suburb of Houston, housing costs have been increasing at 5.2% per a year compounded annually for the past 8 years. A house with a current value of $26,000 would have been worth how much 8 years ago?

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Answered by Ms. Sue
Are you sure that's $26,000?

I bought a small inexpensive house in 1976 for $30,000. I sold it 14 years ago for $90,000.



Answered by Homework Help
I'm Sure.
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