ed: Term Exam $2$ covering chapters $7,8,9$ and$10$

Mr$.$ and Mrs$.$ Markovich note that the condo they purchased $20$ years ago for $$70,000$ is now appralsed at $$340,000.$

What was the $($equivalent$)$ annual rate of appreciation in the value of their condo during the $20-$year period? $($Do not round Intermedlate calculatlons. Round your percentage answer to $2$ decimal places.$)$

The value of the condo increased $\%$ compounded annually.