Question

Cindy bought a house for $218,000 in 1999. In 2006 the house was worth $253,000. If the house appreciation is linear, how much will the house be worth in 2009?

Answer 1

Answer: The house will be worth of $268000.

Explanation:

Since we have given that

Amount Cindy paid for bought a house in 1999=$218000

In 2006, Amount of house = $253000

First we will find the slope i.e "the rate of change"

`m=(253000-218000)/(2006-1999)\\\\m=(35000)/(7)\\\\m=5000`

So, the equation of slope will be

`y-y_0=m(x-x_0)\\\\y-218000=5000(x-1999)`

The house will be worth of in 2009 will be

`y-218000=5000(2009-1999)\\\\y-218000=5000* 10\\\\y-218000=50000\\\\y=50000+218000\\\\y=268000`

Hence, the house will be worth of $268000.