(Answered) 20 years ago the average sale price of a home was 75351

Finance

20 years ago, the average sale price of a home was 75,351. Today, the average price of a house is 244,329. What was the average rate of change in the price of houses over this time period? (you should calculate the compound growth rate in this problem)

is this calculated corrected via excel

=RATE(20,0,-75351,244329,0) = 6.06%

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