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Write an equation that represents the situation. Then answer the question. Samantha buys a house for $350,000. The value of the house increases by 3% each year. What is the valu…

Write an equation that represents the situation. Then answer the question. Samantha buys a house for $350,000. The value of the house increases by 3% each year. What is the valu…
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Write an equation that represents the situation. Then answer the question.

Samantha buys a house for $350,000. The value of the house increases by 3% each year. What is the value of the house after 7 years?

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User Tim Rogers
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1 Answer

1 vote
Using this equation, we can plug in t = 7 to find the value of the house after 7 years:

V = 350,000(1 + 0.03)^7
V = 350,000(1.225043)
V = $428,261.51

Therefore, the value of the house after 7 years is $428,261.51.
answered
User Brandon Deo
by
8.4k points
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