pre calc question 9

Question

A house was valued at $105,000 in the year 1994. The value appreciated to $165,000 by the year 2006.

A) What was the annual growth rate between 1994 and 2006?

r =  Round the growth rate to 4 decimal places.

B) What is the correct answer to part A written in percentage form? 

r =  %.

C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2010 ?

value = $   Round to the nearest thousand dollars.

Answer 1

As with your other post, start with the two-point form from Algebra 1.

(y - 1992) / (x - 2001) = (2001 - 1992) / (165000 - 105000)

Convert to slope-intercept form and answer.