document.write( "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 \n" ); document.write( "

Algebra.Com's Answer #602240 by josgarithmetic(39620) $\"\"$ $\"About$

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To use a continuous exponential growth model, $\"y=p%2Ae%5E%28kt%29\"$ .
\n" ); document.write( "First find k.
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\n" ); document.write( " $\"ln%28y%29=ln%28p%29%2Bkt\"$
\n" ); document.write( " $\"kt=ln%28y%29-ln%28p%29\"$
\n" ); document.write( " $\"k=%28ln%28y%29-ln%28p%29%29%2Ft\"$
\n" ); document.write( "The data for the 10% yearly value increase,
\n" ); document.write( " $\"k=%28ln%281.1%29-ln%281%29%29%2F1\"$
\n" ); document.write( "---------------------------------but WAIT-----------\r
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\n" ); document.write( "\n" ); document.write( "Is all of that really necessary for the question?
\n" ); document.write( "For 10% growth each year, the year is in twelve month sections.
\n" ); document.write( " $\"10%2F12=5%2F6=0.8333\"$ PERCENT EACH MONTH. \n" ); document.write( "

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