A house was valued at $120,000 in the year 1985. The value appreciated to $165,000...
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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.
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