Answer:
The annual growth rate between 1985 and 2005 is 0.95%
The value of the house in the year 2010 is $152,018
Step-by-step explanation:
Let the annual growth rate = r
Value of the house in year 1985 = $120,000
Value of the house in year 2005 = $145,000
Time (t) = 2005 - 1985
= 20 years
A = P (1 + r)^t
145000 = 120000 (1 + r) ^20
(1 +r)^20 = 145000 / 120000
(1 +r)^20= 1.2083
(1 +r)^20= (1.2083)^1/20
(1 +r)^20= 1.0095
r = 1.0095 - 1
r = 0.0095
r% = 0.0095 x 100
= 0.95%
Value of the house in year 2010
=145000(1 + r)^5
=145000 (1 + 0.0095)^5
= 145000 x 1.0484
=$152,018
Answer:
$4,750.
Step-by-step explanation:
To determine the rental value of the apartment in the tenth year, knowing that it is worth 1,600 during the first year but that it will be adjusted annually to 11.5%, the following calculation must be made:
X = 1,600 x (1 + 0.115) ^ 10
X = 4,751.91
Thus, at ten years, rounded to the nearest tenth, the rental value will be $ 4,750.
Answer:
Step-by-step explanation:
So think like a percent 3 percent of 23 of mean multiply so first 23 divided by 100 equals what then to check the answer multiply it by 3
