Question

In the year $1985,$ a house was valued at $\$ 110,000$ . By the year $2005,$ the value had appreciated to $\$ 145,000$ . What was the annual growth rate between 1985 and 2005$?$ Assume that the value continued to grow by the same percentage. What was the value of the house in the year 2010$?$

Name: in the year 1985 a house was valued at 110000 by the year 2005 the value had appreciated to 145000 what was the annual growth rate between 1985 and 2005 assume that the value continued to grow by the
Uploaded: 2021-08-29T09:01:59-08:00
Duration: 4 min 59 s
Channel: Debasish Das
Description: in the year 1985 a house was valued at 110000 by the year 2005 the value had appreciated to 145000 what was the annual growth rate between 1985 and 2005 assume that the value continued to grow by the

          In the year $1985,$ a house was valued at $\$ 110,000$ . By the year $2005,$ the value had appreciated to $\$ 145,000$ . What was the annual growth rate between 1985 and 2005$?$ Assume that the value continued to grow by the same percentage. What was the value of the house in the year 2010$?$

Added by Richard B.

College Algebra

Jay Abramson 1st Edition

Chapter 6

Instant Answer

Solved by Expert Debasish Das

08/29/2021

Step 1

The total growth is the final value divided by the initial value, which is $\frac{145,000}{110,000} = \frac{29}{22}$. Show more…

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In the year $1985,$ a house was valued at $\$ 110,000$ . By the year $2005,$ the value had appreciated to $\$ 145,000$ . What was the annual growth rate between 1985 and 2005$?$ Assume that the value continued to grow by the same percentage. What was the value of the house in the year 2010$?$