Question

Question 3 Benda is taking about buying a house for $249.000 The table below shows the projected value of two different houses for three years Number of years 1 2 3 House 1 (value in dollars) 253.960 259 059 60 264 240 79 House 2 (value in dollars) 256 000 263.000 270.000 Part A: What type of function Inear or exponential can be used to describe the value of each of the houses after a fixed number of years? Explain your (2) Part B: Wibe one function for each house to describe the value of the house fix) in dollars, after x years (4 points) Part C: Belinda wants to purchase a house that would have the greatest value in 45 years. Will there be any significant difference in t

please I need help I will give alot of points ​

Answer 1

Part A:

To determine whether a linear or exponential function can be used to describe the value of each house after a fixed number of years, we need to examine the change in the value of the houses over time. If the change is constant, a linear function can be used. If the change is proportional to the current value, an exponential function can be used.

Looking at the data in the table, we can see that the value of House 1 is increasing by a relatively constant amount each year, whereas the value of House 2 is increasing by a proportional amount. Therefore, a linear function can be used to describe the value of House 1, and an exponential function can be used to describe the value of House 2.

Part B:

For House 1, we can use the formula y = mx + b, where y is the value of the house in dollars, x is the number of years, m is the slope or rate of increase, and b is the initial value. Using the data from the table, we can find the slope and initial value:

m = (264240.79 - 253960) / 2 = 5140.395

b = 253960

So the function to describe the value of House 1 after x years is:

y = 5140.395x + 253960

For House 2, we can use the formula y = ab^x, where y is the value of the house in dollars, x is the number of years, a is the initial value, and b is the growth factor. Using the data from the table, we can find the initial value and growth factor:

a = 256000

b = (270000 / 256000)^(1/3) = 1.02905

So the function to describe the value of House 2 after x years is:

y = 256000(1.02905)^x

Part C:

To determine which house will have the greatest value in 45 years, we can plug in x = 45 into the functions we found in Part B and compare the results. Using a calculator, we get:

House 1: y = 5140.395(45) + 253960 = 472 339.25

House 2: y = 256000(1.02905)^45 = 798 825.85

Therefore, House 2 will have a significantly higher value after 45 years.

Explanation: