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Answer:
The house is increasing in value by 2% each year.
Correct the increase is 1.02 per year the value of b>0 and the percentage of increase each year is:
Step-by-step explanation:
For this case if we have this expression
We have the same functional forma like the exponential model given by:
Where a = 210000 represent the constant or initial value and b = 1.02 represent the base.
So let's analyze the possible options:
The house has a starting value of 1.02.
False the starting value for this case is 210000 since if x=0 then we see that the value is 210000
The house is decreasing in value by 2% each year.
False the increase is 1.02 each year so then in % we have
We have an increase of 2% each year
The house is increasing in value by 2% each year.
Correct the increase is 1.02 per year the value of b>0 and the percentage of increase each year is:
The value of the house is changing by 0.02% each year.
False the increase is 2% per year