A large bag of marbles is 1/2 red,
2 answers:
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Answer:
The statements that are true for this equation are:
- The equation is an exponential growth equation.
- $228.000 represents the initial cost of a real estate that appreciates 3% per year over the course of years.
Step-by-step explanation:
We have the equation
Where V: value of the real state and t: time in years.
As t is always positive in this case, and 1.03 is larger than 1, the value V will rise exponentially. The equation is an exponential growth equation.
The difference in value for each year is:
We can conclude that the value increases each year 0.03 (3%) from the previous year value, starting from $228,000 in the year t=0.
$228.000 represents the initial cost of a real estate that appreciates 3% per year over the course of years.