The freeman family bought a new apartment five years ago for $80,000. the house is now worth $199,200. assuming a steady rate of growth, what was the yearly rate of appreciation?

Rate of yearly appreciation of the house is 20%

Step-by-step explanation:

The Freeman family bought a new apartment 5 years ago for $80000.

The house worth now $199200.

We have to calculate the yearly rate of appreciation.

To get the rate of appreciation we will use the formula

P =

P = current worth

= Worth before time t years

r = rate of appreciation

t = duration

Now we put the values in the formula

(1 + r) = 1.20

r = 1.20 - 1

r = 0.20

Or rate of yearly appreciation of the house is 20%

step-by-step explanation:

first, eliminate the parenthesis:

3

x

+

2

−

4

x

second, group like terms:

3

x

−

4

x

+

2

third, combine like terms:

(

3

−

4

)

x

+

2

→

−

1

x

+

2

→

−

x

+

2

no

step-by-step explanation:

answer