A "point" is 1% of your borrowed amount on a mortgage. You want to pay 2 points to get a 0.5% reduction in your interest rate on
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<h2>94.93</h2>
Step-by-step explanation:
The standard equation used to model a exponential growth is given by
Given two data points, which are both explicitly a function of time, it is easy to solve the two equations,
Dividing the second equation by the first,
Substituting in first equation,
Growth model :
Growth rate==
∴Approximate growth rate as of 2018 = 95