anonymous
  • anonymous
a married couple, purchased their home in December 1989 for $89,000. The house was appraised in January 2008 for $325,000. What was the annual rate of appreciation on the home during this period?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
amistre64
  • amistre64
compounded yearly eh...
amistre64
  • amistre64
325 = 89(1+r)^t right?
amistre64
  • amistre64
3.652 = (1+r)^18 if im doing it right :)

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More answers

anonymous
  • anonymous
ok how do you get the r in the bracket...this is where I am confused
amistre64
  • amistre64
the r = rate of appreciation correct? if we take the initial value, and apply the "interest" to it we get: 89 + 89(rate); which factors to: 89(1+ rate) the rate is compunded every year for a total of 18 years. 89(1+rate)^18 = 325
anonymous
  • anonymous
Is the t = 19?
anonymous
  • anonymous
yes the t=19
amistre64
  • amistre64
log(3.652) = log[(1+r)^18] log(3.652) = 18 log(1+r) 3.652^(1/18) = 1+r 3.652^(1/18) -1 = r
amistre64
  • amistre64
dec 89 is basically jan 90
amistre64
  • amistre64
8+10 = 2008
amistre64
  • amistre64
I get about 7.5%
anonymous
  • anonymous
ok... well the answers that I have to choose from are: 6.69% 6.26% 6.87% 7.05%
amistre64
  • amistre64
im close then ;)
amistre64
  • amistre64
work it backwards to see what fits, thats what I do with multiple choices
anonymous
  • anonymous
If you use 19 then you get 7.05%
anonymous
  • anonymous
lol...yes...but I am trying to find out how to come up with that on a BAII Plus calculator. And log is not on this one
amistre64
  • amistre64
89(1.0705)^18 use the calculator on the computer.... programs, accessories, calculator usually
anonymous
  • anonymous
ok....we are only allowed to use our calculators in this exam, so I have to figure out how to do it on this one. Stupid Business Math! LOL
amistre64
  • amistre64
324.7407 if you use ^19 ;)
amistre64
  • amistre64
without a log button...you got exponent button?
anonymous
  • anonymous
yes
amistre64
  • amistre64
can you key in a random exponent? like 1/19?
amistre64
  • amistre64
[325/89]^(1/19) -1
amistre64
  • amistre64
0.070544965363919914409636326010341
anonymous
  • anonymous
I use the button on the calculator that has a radical sign with the x above the radical sign and a y under the radical sign Type in 3.652 then that sign and then 19 =
amistre64
  • amistre64
1/19 not 19 :) way different value for that lol
amistre64
  • amistre64
ohh....radical sign, gotcha
anonymous
  • anonymous
wow...mind spinning....lol
amistre64
  • amistre64
the answers 7.05 ;) dont lose sight of that one lol
anonymous
  • anonymous
yes....thanks for coming up with the appropriate answer...but I am trying to find out how to punch in this formula. I am a math idiot.... wish I wasn't
anonymous
  • anonymous
OMG......figured it out....yipee. Sooooo love you guys!!!
amistre64
  • amistre64
take a pic of the calculator and post it :)
amistre64
  • amistre64
or not lol :)
amistre64
  • amistre64
yay!!! youre welcome :)
anonymous
  • anonymous
ok....will do
anonymous
  • anonymous
amistre64
  • amistre64
1 Attachment
anonymous
  • anonymous
wish I knew how to use this dang thing....or that I knew how to do math
amistre64
  • amistre64
your math might be fine, that calculator looks mean tho lol
anonymous
  • anonymous
it is....we are all used to a regular scientific one. So we don't know how to use all the buttons that would probably make it much simpiler
amistre64
  • amistre64
heres my other one ;)
1 Attachment
amistre64
  • amistre64
it didnt post..... how odd
amistre64
  • amistre64
try it again
1 Attachment
anonymous
  • anonymous
NOW THAT'S MY KIND OF CALCULATOR! Bahahahaha
amistre64
  • amistre64
:) LOL
anonymous
  • anonymous
well you ARE now my Superhero!! Thanks so much. And I will definitely be back, I assure you! LOL
amistre64
  • amistre64
have a great time ;)

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