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A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years

A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years
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5 votes
A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years

asked
User Ali Shekari
by
7.7k points

1 Answer

4 votes
Y=120000(1+0.055)^x
Y=120000(1.055)^x
answered
User Paulo Victor
by
8.0k points
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