Question

Which is an exponential growth function?

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?

f(x) = 120,000(1.055x)
f(x) = 120,000(0.055)x
f(x) = 120,000(1.055)x
f(x) = [(120,000)(1.055)]x

Answer 1

It is In fact C. f(x) = 120,000(1.055)x

Explanation:

Took this on Edg, it's right.

Answer 2

`f(x)=120,000(1.055)^(x)`

Explanation:

In this problem we have a exponential function of the form

`f(x)=a(b)^(x)`

where

f(x) a home's value

x the number of years

a is the initial value

b is the base

b=(1+r)

r is the rate of grown

we have

a=$120,000

r=5.5%=5.5/100=0.055

b=1+0.055=1.055

substitute

`f(x)=120,000(1.055)^(x)`