document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195812>Question 1195812</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A house was valued at $95,000 in the year 1989. The value appreciated to $170,000 by the year 2001.<BR>\n" );
document.write( " A) If the value is growing exponentially, what was the annual growth rate between 1989 and 2001? r = Round the growth rate to 4 decimal places. \r<BR>\n" );
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document.write( "B) What is the correct answer to part A written in percentage form? r = %.\r<BR>\n" );
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document.write( " C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2006 ? value = $ Round to the nearest thousand dollars. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828366 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=828366\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> let 1989 be 0<BR>\n" );
document.write( "t=12 in 2001<BR>\n" );
document.write( "95000(1+r)^12=170000<BR>\n" );
document.write( "(1+r)^12=170000/95000=1.789<BR>\n" );
document.write( "take the 12th root of that value and round at end.<BR>\n" );
document.write( "1+r=1.049689<BR>\n" );
document.write( "r=0.0497 or 4.9689%\r<BR>\n" );
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document.write( "1.049689^17 (for 2006)=2.28050<BR>\n" );
document.write( "multiply that by 95,000 for the answer $216,647.95 or $217,000 </SPAN>\n" );
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