Heather and Joel bought a house for $157,200 and know that the house appreciates

Heather and Joel bought a house for $157,200 and know that the house appreciates every year. They keep track of their house value for 5 years and model their data with the exponential equation y = 150000(1.004)12t How much will their house be worth in 8 years?

2 months ago

Solution 1

Guest Guest #3222
2 months ago

Heather and Joel bought a house for $157,200 and know that the house appreciates every year. They keep track of their house value for 5 years and model their data with the exponential equation y = 150000(1.004)12t How much will their house be worth in 8 years?

Solution:

Equation of the appreciation of the value of house is given by:-

y=150000(1.004)^{12t}

We need to find the worth of the house after 8 years

So, that means time, t=8

Let us plug t=8 in the equation y=150000(1.004)^{12t}

So, we get,

y=150000(1.004)^{12*(8)}

y=150000(1.004)^{96}

y=150000(1.467021)

y=150000*1.467021

y=220053.20

In 8 years the value appreciates to $220053.20, that s, worth of house after 8 years=$22005320


Solution 2

Guest Guest #3223
2 months ago

We have to find value of the house in 8 years so we will plug t=8 years in given equation.

 y=150000(1.004)^{\left(12t\right)}

 y=150000(1.004)^{\left(12*8\right)}

 y=150000(1.004)^{96}

 y=150000(1.46702133432)

 y=220053.200148

Hence house will worth approx $220053.20 in 8 years.

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A right triangle has one side, s, and a hypotenuse of 12 meters. Find the area of the triangle as a function of s. A) A(s) = 2s 144 - s2 B) A(s) = s 144 - s2 C) A(s) = 2s 12 - s2 D) A(s) = 12s 144 - s2 10) The base of a ladder is placed 5 feet away from a 13 foot tall wall. What is the minimum length ladder needed to reach the top of the wall (rounded to the nearest foot)? A) 12 ft B) 13 ft C) 14 ft D) 15 ft
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