SOLUTION: A house cost $120,000 when it was purchased. The value of the house increases by 10% each year. Find the rate of growth each month

Question 981210: A house cost $120,000 when it was purchased. The value of the house increases by 10% each year. Find the rate of growth each month
Answer by josgarithmetic(39620) (Show Source): You can put this solution on YOUR website!
To use a continuous exponential growth model, .
First find k.
-

The data for the 10% yearly value increase,

---------------------------------but WAIT-----------

Is all of that really necessary for the question?
For 10% growth each year, the year is in twelve month sections.
PERCENT EACH MONTH.
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