Question: Please answer the question in full and explain how you got it! Assume that in January 2020, the average house price in a particular area

Please answer the question in full and explain how you got it!

Assume that in January 2020, the average house price in a particular area was $270,500. In January 1999, the average price was $192,000. What was the annual increase in the price of the average house sold? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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