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  3. a. assume that in january 2013, the average ho

A. Assume that in January 2013, the average house price in...

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Finance

A.

Assume that in January 2013, the average house price in a particular area was $278,400. In January 2000, the average price was $195,300.

What was the annual increase in selling price? (Do not round intermediate calculations. Enter your answer as a percent rounded answer to 2 decimal places, e.g., 32.16.)

Annual increase in selling price

%

B.

You're trying to save to buy a new $201,000 Ferrari. You have $51,000 today that can be invested at your bank. The bank pays 5.9 percent annual interest on its accounts.

How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Number of years

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