Thirty Years Ago, an Average House Cost $120,000 in Vancouver

Thirty years ago, an average house cost $120,000 in Vancouver. Now the average house price is $950,000. Determine the annual rate of growth in Vancouver's housing prices.

A) 8.31%
B) 7.14%
C) 6.25%
D) 5.58%
E) 4.63%