Zoe purchased a house in 1999 for $196,000. In 2004, she sold the house and made a net profit of $80,000. Find the effective annual rate of return on her investment over the 5-year period. (Round your answer to the nearest hundredth of a percentage point.)

Answer 1

let the rate be i
then ....
196000(1+i)^5 = 276000
(1+i)^5 = 1.408163...
i+i = 1.07085 ..... I took the fifth root of both sides
i = .07085

the effective rate was 7.09%

Answer 2

Thank you!!

Answer 3

Trapezoid has vertices (1,2), (3,2), (1,4), and (3,5). Bounded region is rotated about the y axis. Find the volume using the disk method..