Question

A house cost $120,000 when it was purchased. The value of the house increases by 10% each year. Find the rate of growth each month and select the correct answer below.

Answer 1

Are there any answer choices?

Answer 2

0.797%
0.00797%
0.833%
0.00833%

Answer 3

Okay, if you took 10% and turned it into a decimal it would look like this 0.1 so you'd have to divide it by twelve since it's asking for the rate each month.

Answer 4

if i do that i get 1.2

Answer 5

You multiplied, you didn't divide.

Answer 6

wait. i just realized i have a sucky calculator. i get 8.33x10^-3

Answer 7

so that would fix to .00833

Answer 8

yup

Answer 9

thanks

Answer 10

No problem.