Assume that in january 2013, the average house price in a particular area was $289,400. in january 2000, the average price was $ 206,300. what was the annual increase in selling price?
1 answer:
The problem is an arithmetic sequence with: a₁ = 206,300 an = 208,400 n = 2013 - 2000 n = 13To find the annual increase, use this following formula an = a₁ + d(n - 1) d represents the annual increaseInput the numbers an = a₁ + d(n - 1) 289,400 = 206,300 + d(13 - 1) 289,400 = 206,300 + 12d 289,400 - 206,300 = 13d 83,100 = 12d 12d = 83,100 d = 83,100/12 d = 6,925The annual increase is $6925
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