Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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A house was valued at $120,000 in the year 1986. The value appreciated to $165,000 by the year 2002.
Use the compound interest formula S=P(1+r)tS=P(1+r)t to answer the following questions.
A) What was the annual growth rate between 1986 and 2002?
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