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AleksandrR [38]
3 years ago
12

A home value increases at a rate of 2.3% per year. If you purchased a home for 192,300, what would be the value of the home in 1

0 years? Round to the nearest cent.
Mathematics
1 answer:
stealth61 [152]3 years ago
3 0

9514 1404 393

Answer:

  $241,399.09

Step-by-step explanation:

The value is increasing exponentially with a growth factor of 1.023, so it will be ...

  v(t) = 192,300×1.023^t

  v(10) = 192,300×1.023^10 ≈ 241,399.09

The value is predicted to be $241,399.09 in 10 years.

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