Question

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?

Answer 1

120000(1.055)x

Step-by-step explanation

Answer 2

Explanation:

To build the equation we need to get the value.

120,000

Lets add the percent which is 1.055 since it is 5.5% added to nothing increasing

120,000(1.055)x