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anonymous

  • one year ago

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.

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  1. anonymous
    • one year ago
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    I am stuck here. I do not know what formula I should use!!!

  2. mathstudent55
    • one year ago
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    Since there are 12 months in a year, you need to divide the annual rate by 12.

  3. anonymous
    • one year ago
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    and after that? @mathstudent55

  4. anonymous
    • one year ago
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    that should be your answer

  5. mathstudent55
    • one year ago
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    Just divide 10% by 12. What do you get?

  6. anonymous
    • one year ago
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    ohhhh.... okay it makes sense

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