A house was valued at $120,000 in the year 1985. The value

Last updated: 7/22/2022

A house was valued at $120,000 in the year 1985. The value appreciated to $165,000 by the year 2000. Use the compund interest formula S = P(1 + r)t to answer the following questions. A) What was the annual growth rate between 1985 and 2000? 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 2003? value = $ Round to the nearest thousand dollars.