A home is valued at $236,500 in 2012. In 2017, the home is worth $305,700....
A home is valued at $236,500 in 2012. In 2017, the home is worth $305,700. Assume the homes
Answer & Explanation
Skilled2020-11-09Added 103 answers
Consider the following exponential function of value of the home:
V(t)=Value of home after t years
t=number of years from 2012
a and b are constants
In 2012, value of home is $236,500
In 2017, value of home is $305,700
Hence, the exponential function is
Take logarithm on both sides of the equation:
Hence, after 10 years value of home will become $400,000.
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