I need some help calculating the following problem set with step-by-step process. Thank you for your assistance. The Holder family has an estate located in the Hamptons and the current market price is $28 million dollars. The estate was built in 1900 and was owned by Ms. Cornelia Holder until 1964. Her nephew, Roger bought the house in 2007 in order to keep the estate in the family. Calculate the annual compound growth rate of the house when it was purchased by Roger in 2007 (round to the nearest whole number). Please show your work.Assume that the growth rate you calculated in #1 remains for the next 20 years. Calculate the price of the house in 20 years. Please show your work.Assume the growth rate calculated in #1 has prevailed since 1900. Calculate the price of the house in 1900. Please show your work. Assume the growth rate that was calculated in #1 prevailed since 1900. Which price was paid for the house in 1964?You were using the time value of money concept to answer question #3. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.
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