Question

the value of a building is $180,000. the value is expected to increase by 3.5% each year. write a function that represents the value y (in dollars) of the building after x years. the predict the value after 10 years

Answer 1

3.5/100 = 0.035
$180,000 x 0.035 = $6,300 (the 3.5%)
6,300 x 10 = $63,000 the 3.5% after 10 years
$180,000 + $63,000 = $243,000
Therefore the building value after 10 years is $243,000.