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What is the simplest way of solving this?
The value of a house is doubled in 20 years. What is the annual average percentage increase, if it is assumed to be the same each year?
Very easy indeed...
$a= 2^{\frac{1}{20}} \sim 3.53 \text{%}$
Kind regards
$\chi$ $\sigma$
MarkFl has already explained that in excellent way!... an alternative explanation is that the expression of the of value of the house after N years is...Could please explain how you got that answer?