Question

A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years? f(x) = 120,000(1.055)x f(x) = 120,000(0.055)x f(x) = 120,000(1.055)x f(x) = [(120,000)(1.055)]x

Answer 1

Answer:

$f(x)=120,000 \times (1.055)^{x}$.

Step-by-step explanation:

We are given that,

The present value for the home is $120,000 and the rate of interest is 5.5% i.e. 0.055.

As we know that the function for the home is given by,

$f(x)=P \times (1+r)^{x}$

where P = present value, r = rate of interest, x = number of years.

So, according to the question, we get that,

$f(x)=120,000 \times (1+0.055)^{x}$

i.e. $f(x)=120,000 \times (1.055)^{x}$.

Hence, we see that the function that represents the value of the home is $f(x)=120,000 \times (1.055)^{x}$.

Answer 2

Answer:

C     f (x) = 120,000 (1.055)^x

Step-by-step explanation:

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