Asked by zhamiya moore on May 30, 2024
Verified
Mr. and Mrs. Markovich note that the home they purchased 20 years ago for $70,000 is now appraised at $340,000. What was the (equivalent) annual rate of appreciation in the value of their home during the 20-year period?
Annual Rate of Appreciation
The rate at which an investment or real estate increases in value over a one-year period, expressed as a percentage.
- Compute the annual growth rate of an investment, compounded yearly.
Verified Answer
JB
Learning Objectives
- Compute the annual growth rate of an investment, compounded yearly.