# In 1980, the average price of a home in Brainerd County was $100,000. By 1986 the average price of a home was $112,000. What is the rate of change?

##### 1 Answer

Jun 7, 2017

See a solution process below:

#### Explanation:

The formula for calculating the percent change in a value between two points in time is:

Where:

Substituting and solving for

Between 1980 and 1986 there was a 12% increase in the average price of a home.