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OpenStudy (anonymous):
The Mendes family bought a new house 10 year ago for $120,000 . The house worth $191,000 .Asumsuming a steady rate of growth, what wass the yearly rate of appreciation?
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OpenStudy (amistre64):
191 = 120(1+r)^10 ; what does steady growth rate mean?
OpenStudy (amistre64):
\[\sqrt[10]{191\over120}-1 = r\]if compunded yearly
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