Linda purchased a house for $144,000. thinking of possibly refinancing after 11 years, she had her house appraised and found that it is now worth $245,000. find the rate of change of the value of the house in dollars per year.

The rate of change of house value after 11 years is 4.89

Step-by-step explanation:

Given as ;

The principal cost of house = $ 144,000

The time period = 11 years

The amount of house after 11 years = $245,000

Let The rate of change = R

Now,

The cost of house after n years = Initial cost of house ×

Or,  $245,000 = $ 144,000  ×

Or, =  

Or, 1.7013 =  

Or, = ( 1 + )

Or , 1.04898 = ( 1 + )

Or,  1.04898 - 1 =  

So, 0.04898 =  

Or, 0.04898 × 100 = R

∴ R = 4.89

Hence The rate of change of house value after 11 years is 4.89   Answer