Question

Sean's house is currently worth $188,900. According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year. The given function represents the value of Sean's house after t years.
f(t)=188,900(1.048)^t

Which statement is true?

A.
The expression (1.0237)12t reveals the approximate monthly growth rate of the value of Sean's house.
B.
The expression (1.0237)4t reveals the approximate quarterly growth rate of the value of Sean's house.
C.
The expression (1.0118)4t reveals the approximate quarterly growth rate of the value of Sean's house.
D.
The expression (1.0118)12t reveals the approximate monthly growth rate of the value of Sean's house.

Answer 1

Answer:

Given

Sean's house is currently worth $188,900.

According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year.

To prove

Formula

Where r is the rate in the decimal form.

As given

              = 0.048

Put in the formula

       

Now also calculated monthly.

Formula

As given

              = 0.048

Put in the formula

As the approximation quarterly growth rate of the value of sean's house is near the Compounded quarterly interest .

Thus Option (A) is correct.

i.e

The expression reveals the approximate quarterly growth rate of the value of Sean's

House

Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation:

The function representing the value of Sean's house after t years is expressed as

f(t)=188,900(1.048)^t

Where the current price of the house is $188,900

According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year.

Looking the the given function, the statement that is true is

The expression (1.0118)4t reveals the approximate quarterly growth rate of the value of Sean's house.