the mendez family just bought a home for 180,000 if the value of the home increases at a rate of 3% per year, use an exponential

Question

4 years ago

8

function to find the approximate value of the home after 10 years

1 answer:

just olya [345] · Answer 1 · 2022-02-09T11:57:23+03:00

Answer:

241904.9483

≈ 241905

Step-by-step explanation:

Given that,

current amount of house = 180,000

value of the home increases at a rate of 3% per year

To find,

approximate value of the home after 10 years using exponential function

<h2>Equation</h2><h2>a(1 + r)^t</h2>

where a is the amount of house = 180,000

r is the interest rate per annum = 3% = 3/100 = 0.03

t is the number of years = 10

180,000 (1+0.03)^10

180,000 (1.03)^10

241904.9483

≈ 241905

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