Buying Your Own Home Is Often Mentioned as "The Best

Multiple Choice

Buying your own home is often mentioned as "the best investment you can make." In 1964,the average home sale price was $19,600.By 2009,the average home sale price had risen to $272,900.What was the average annual rate of change in the price of houses over this 45 year time period?

A) 3.74% per year
B) 6.03% per year
C) 10.52% per year
D) 12.16% per year