Discover a wealth of knowledge and get your questions answered at IDNLearn.com. Ask anything and receive immediate, well-informed answers from our dedicated community of experts.

Write an exponential equation using y a(b) that
represents the growth or decay of the situation.
A house was purchased for $160,000. The house has an
annual appreciation rate of 8%. Please write a let statement
and an equation that represents the house's value over time.


Sagot :

Answer:

[tex]y = 160000 * (1.08)^t[/tex]

Step-by-step explanation:

Given

[tex]a = 160000[/tex] --- initial

[tex]r =8\%[/tex] --- rate

Required

The function over time

The function is calculated as:

[tex]y = a(1 + r)^t[/tex]

So, we have:

[tex]y = 160000 * (1 + 8\%)^t[/tex]

Express percentage as decimal

[tex]y = 160000 * (1 + 0.08)^t[/tex]

[tex]y = 160000 * (1.08)^t[/tex]

Thank you for contributing to our discussion. Don't forget to check back for new answers. Keep asking, answering, and sharing useful information. Your search for solutions ends at IDNLearn.com. Thank you for visiting, and we look forward to helping you again.