Question

In 2007, Linda purchased a house for $120,000. In 2017, the house was worth $245,000. Find the average annual rate of change in dollars per year in the value of the house

Answer 1

Answer:

$12,500

Step-by-step explanation:

Given that, Linda purchased a house for $120,000 in 2007 and the value of the house was $245,000 in 2017.

Total change in the value of house= $245,000- $120,000=$125,000.

Total time (in years) between 2007 and 2017 = 2017-2007=10 years.

The value of the house changes by $125,000 in the time interval of 10 years.

So, the average annual rate of change in the value of the house = $125,000/10=$12500 per year.

Hence, the average annual rate of change in the value of the house is $12,500.