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23 January, 21:47

A house purchased five years ago for 100,000 was just sold for 135,000 assuming eponteniol growth approxmate the annual growth rate rate to the nearest percent

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  1. 23 January, 21:58
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    Wow ... I find it seriously hard to believe that you have to do this bashing torture. Anyway, we call the interest rate n. so, we have 100,000 * (1+0.01n) ^5=135000. Usig Wolfram alpha, n comes out as 6. SO, the percent rate is 6%.
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