I really need help with this word problem. I tried so many times, but I still can't get an answer.
The Mendes family bought a new house 10 years ago for $120,000. The house is not worth $191,000. Assuming a steady rate of growth, what was the yearly rate of appreciation?
This is what I've got so far:
191,000=120,000 (1+r)^10
191/120=(1+r)^10
log little (1+r) big 191/120=10
I'm stuck...I don't think these steps I've taken are correct either. HELP PLEASE!!! Test is tomorrow!!!
Thanks in advance!
The Mendes family bought a new house 10 years ago for $120,000. The house is not worth $191,000. Assuming a steady rate of growth, what was the yearly rate of appreciation?
This is what I've got so far:
191,000=120,000 (1+r)^10
191/120=(1+r)^10
log little (1+r) big 191/120=10
I'm stuck...I don't think these steps I've taken are correct either. HELP PLEASE!!! Test is tomorrow!!!
Thanks in advance!
-
..... aw.... I don't know.....
people hate this answer but.... Google it? :3
Sorry i couldn't help.
-Panbear
people hate this answer but.... Google it? :3
Sorry i couldn't help.
-Panbear