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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.

- anonymous

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- anonymous

Answer choices
0.797%
0.00797%
0.833%
0.00833%

- itsmichelle29

D!!!

- itsmichelle29

LOL its the right answer trust me

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## More answers

- itsmichelle29

you take
0.10 and divide by 12
to get you answer D.

- anonymous

thanks

- anonymous

Solve 5^(2x) = 7^(x−1)

- itsmichelle29

x=−1.528643

- anonymous

@fugazi go to ur question

- anonymous

that is wrong

- itsmichelle29

HOw

- anonymous

i got it wrong

- anonymous

try C.

- anonymous

that is wrong too

- anonymous

i think it is B

- anonymous

yeah b my bad

- anonymous

the correct answer is B

- anonymous

You decide to put $100 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate of 2% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds

- anonymous

is there any answer choices?

- anonymous

answer choices
170.202
14.3129
171.755
168.354

- anonymous

i know c and b is wrong
i think it is d

- anonymous

well to check yourself you can use the formula
FV = PV*(1+r/n)^(n*t)
the variables are
FV = future value
PV = present value
r = interest rate
n = compounding frequency
t = time in years
You will plug in the following
FV = 3000 is the amount you want
PV = 100 is the amount you have
r = 0.02
n = 12
t = unknown. You are solving for this

- anonymous

72000

- anonymous

just plug in the choices for x in 100(1.02)^x

- anonymous

till u get 3000

- anonymous

i think its c

- anonymous

me too

- anonymous

A motorcycle cost $12,000 when it was purchased. The value of a motorcycle decreases by 6% each year. Find the rate of decay each month and select the correct answer below.

- anonymous

i got -0.005% is that an answer choice?

- anonymous

yes

- anonymous

c was wrong a couple of comments ago

- anonymous

then try that :)

- anonymous

ur smart

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