Question

Braden bought a piece of commercial real estate for $101,234. The value of the real estate appreciated at a constant rate per year. The table shows the value of the real estate after the first and second years: Year 1 2 Value (in dollars) $104,271.02 $107,399.15 Which function best represents the value of the real estate after t years? f(t) = 101,234(1.03)t f(t) = 101,234(0.03)t f(t) = 104,271.02(1.03)t f(t) = 104,271.02(0.03)t

Answer 1

Answer:

Its A to make it simpler but please give the other guy brainly.

Step-by-step explanation:

Answer 2

Answer:

f(t) = 101,234$(1.03)^{t}$

Step-by-step explanation:

First, use FV formula to find the rate ;r given PV=101,234 and FV=104,271.02 and time= 1 year

$FV= PV (1+r)^{t}$

104,271.02 = 101,234$(1+r)^{1}$

Divide both sides by 101,234 to get;

104,271.02 / 101,234 = 1+r

1.03 = 1+r

1.03 -1 =r

therefore r= 0.03 or 3%

Next, to get the function of FV of estate after t years; f(t) ;

Plug in the 3% rate found above into the FV formula with PV being the current value of 101,234 and it becomes;

f(t) = 101,234$(1.03)^{t}$