SOLUTION: Please help me with this word problem.
1. A house was bought for $50,000 and was sold 15 years later for $95,000. Find the effective yield.
Thank you very much
Algebra ->
Exponential-and-logarithmic-functions
-> SOLUTION: Please help me with this word problem.
1. A house was bought for $50,000 and was sold 15 years later for $95,000. Find the effective yield.
Thank you very much
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Question 39253: Please help me with this word problem.
1. A house was bought for $50,000 and was sold 15 years later for $95,000. Find the effective yield.
Thank you very much Answer by fractalier(6550) (Show Source):
You can put this solution on YOUR website! Well the gross profit was $95,000 - $50,000 = $45,000
If we divide that by 15 years, we get an annual yield of
$3,000 per year.
