A house cost $120,000 when it was purchased. The value of the house increases by 10% each year. What is the rate of growth each month?select the correct answer below.A) 0.797%
B) 0.00797%
C) 0.833%
D) 0.00833%

Answers

Answer 1
Answer:

Answer: C) 0.833%


Step-by-step explanation:

Given: Cost price of house = $120,000

The rate of increase of its cost = 10%

Therefore, the increase amount of house per year =10% of $120,000

=(10)/(100)*120000=\$12,000

Now, the amount increase each month=(12000)/(12)=\$1000

Let r be the rate of growth each month, then

r% of $120,000=1000

\Rightarrow(r)/(100)*120000=1000\n\Rightarrow\ r*1200=1000\n\Rightarrow\ r=(1000)/(1200)=0.833\%

Answer 2
Answer:

Answer:

0.797%

Step-by-step explanation:

DO NOT PICK THE OTHER ANSWERS


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