Could someone please help me answer this question.

Here is the question I need help with answering:

Does anyone know the value of a home in your area or family history from long ago? At what rate has the value of that property grown? (question for anyone; not asking for specific values, just growth rates and time period referenced)

Here is the topic:

Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2003). (Round the number of years to the whole number). Please show your work.

Assume that the growth rate you calculated in question #1 remains the same for the next 30 years. Calculate the price of the house in 30 years after it was sold by Robert G. Goldstein. Please show your work.

Assume that the growth rate you calculated in question #1 remains the same since the house was sold. Calculate the price of the house today. (Round the number of years to the whole number). Please show your work.

Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1910. Please show your work.

Assume the growth rate that you calculated in #1 prevailed since 1910. Which price was paid for the house in 1964? Please show your work.

Assume the growth rate that you calculated in #1 prevailed since 1964. Calculate the price of the house in 2000. Please show your work.

You were using the time value of money concept to answer the question #6. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.

Here is the question I need help with answering:

Good work! In general, I would suggest keeping a few decimal places with a percentage. The time point 0 is a year, rather than an amount and is dependent on the problem being done. When looking at the time period 1964 to 2000, the time period 0 would be 1964. Thanks for the great detail shown here!

Does anyone know the value of a home in your area or family history from long ago? At what rate has the value of that property grown? (question for anyone; not asking for specific values, just growth rates and time period referenced)

Here is what my class mate posted:

1) PV = 17.4, FV = 28, n= 15

FV = PV (FVIF_i,n)

28 = 17.4 (FVIF_i,15)

28 / 17.4 = (FVIF_i,15)

1.609 = (FVIF_i,15)

3% = i

2) PV = 28, i = .03, n = 30

FV = PV (1 + i)ⁿ

= 28 (1 + .03)³⁰

= 28 (1.03)³⁰

= $67,963,349.19

3) PV = 17.4, i = .03, n = 15

FV = PV (1 +i)ⁿ

= 17.4 (1 + .03)¹⁵

= 17.4 (1.03)¹⁵

= $27,108,633.05

4) FV = 27,108,633.05, i = .03, n = 108

PV = FV / (1 + i)ⁿ

= 27,108,633.05 / (1 + .03)¹⁰⁸

= 27,108,633.05 / (1.03)¹⁰⁸

= $113,492.64

5) FV = 27,108,633.05, i = .03, n = 54

PV = FV / (1 + i)ⁿ

= 27,108,633.05 / (1 + .03)⁵⁴

= 27,108,633.05 / (1.03)⁵⁴

= $5,494,111.70

6) FV = 27,108,633.05, i = .03, n = 18

PV = FV / (1 + i)ⁿ

= 27,108,633.05 / (1 + .03)¹⁸

= 27,108,633.05 / (1.03)¹⁸

= $15,923,464.87

7) The time point 0 is $113,492.64. On a timeline, time point 0 is the beginning of the first period of time before any interest added or payments made. The cost of the home in 1910 would be the beginning of the first period and 1964/2000 would be later periods on the timeline as interest incurred.