Question

An investor purchased a house 8 years ago for ​$48,000 This year it was appraised at ​$73,500 Complete parts​ (a) through​ (d) below. ​(a) A linear equation V=mt+b,0

Answer 1

Answer:

b = $48000, m = $3187.5 / year

Step-by-step explanation:

The equation of a linear function is given as y = mx + b, where m is the rate of change, b is the value of y when x = 0, y = dependent variable and x = dependent variable.

Given that V = mt + b:

b = initial price of the house at 0 years = $48000

V = mt + 48000, At 8 years the house is appraised at ​$73,500

73500 = 8m + 48000

8m = 73500 - 48000

8m = 25500

m = 3187.5