A house was valued at $125,000 in the year 1987. The value appreciated to $175,000 by the year 2002.

Question

A) What was the annual growth rate between 1987 and 2002?
r= (round the growth rate to 4 decimal places)
B) What is the correct answer to part A written in percentage form?
r=
C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2005?
value=$ (round to the nearest thousand dollars)

Answer 1

hi what grade is this

Answer 2

im gussing 10th oor 11th idk

Answer 3

ok bye

Answer 4

College

Answer 5

15 years, so
125000 * (1+r)^15 = 175000
r = 0.0227 = 2.27%

175K * 1.0227^3 = 187190