document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1077933>Question 1077933</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In the year 1985, a house was valued at $116,000. By the year 2005, the value had appreciated exponentially to $155,000. What was the annual growth rate between 1985 and 2005? (Round your answer to four decimal places.) \r<BR>\n" );
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document.write( "Assume that the value continued to grow by the same percentage. What was the value of the house in the year 2010? (Round your answer to the nearest dollar.)  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #692415 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=692415\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 155/116=1.3362068965517241379310344827586<BR>\n" );
document.write( "So:<BR>\n" );
document.write( "(1+r)^30=1.3362068965517241379310344827586, where r is the rate of growth per year. So:<BR>\n" );
document.write( "ln (1+r)^30=ln 1.3362068965517241379310344827586<BR>\n" );
document.write( "30 ln (1+r)=0.28983492581288197451218738249028<BR>\n" );
document.write( "ln(1+r)=0.00966116419376273248373957941634<BR>\n" );
document.write( "1+r=e^0.00966116419376273248373957941634<BR>\n" );
document.write( "r=0.00970798389669593985825390329544, or 0.970798389669% as the rate of equity growth.\r<BR>\n" );
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document.write( "2010=155000*(1.0097079838966959398582)^5=$162671.1922 as the value of the house in 2010. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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