A house was valued at $100,000 in the year 1995. The value appreciated to $150,000 by the year 2000. A) If the value is growing

Question

A house was valued at $100,000 in the year 1995. The value appreciated to $150,000 by the year 2000.
A) If the value is growing exponentially, what was the annual growth rate between 1995 and 2000?
Round the growth rate to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
C) Assume that the house value continues to grow by the same percentage. What will the value equal in the
year 2003 ?
Round to the nearest thousand dollars.

Kunduz · Accepted Answer

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