Becky is 18 and would like to buy a house when she is 36. What is the discount factor for today's prices if the housing values i
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Answer:
General Formulas and Concepts:
<u>Pre-Alg</u>
- Order of Operations: BPEMDAS
- Equality Properties
Step-by-step explanation:
<u>Step 1: Define equation</u>
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<u />
<u>Step 2: Solve for </u><em><u>x</u></em>
- Cross-multiply:
- Distribute 0.35:
- Multiply:
- Isolate <em>x</em> term:
- Isolate <em>x</em>:
- Rewrite:
<u>Step 3: Check</u>
<em>Plug in x to verify it's a solution.</em>
- Substitute:
- Multiply:
- Subtract:
- Evaluate: