Question

Jessa bought her home for $125,000 in 2010. property values have increased 15% every year since she has owned the home. which of the following equations can be used to represent the price of the home x years after 2010?

Option 1: y = 125,000(1.15)ˣ
Option 2: y = 125,000(1.25)ˣ
Option 3: y = 125,000(0.85)ˣ
Option 4: y = 125,000(0.75)ˣ

Answer 1

The equation that can be used to represent the price of the home x years after 2010 is y = 125,000(1.15)^x. By multiplying the initial price of $125,000 by 1.15 for each year and using the exponent x to represent the number of years after 2010, we can calculate the price of the home in different years.

Step-by-step explanation:

The equation that can be used to represent the price of the home x years after 2010 is y = 125,000(1.15)x. Option 1: y = 125,000(1.15)x.

Since the property values have increased by 15% every year, we need to multiply the initial price of $125,000 by 1.15 for each year. The exponent x represents the number of years after 2010. By substituting different values for x, we can calculate the price of the home in different years.

For example, if we want to find the price of the home 5 years after 2010, we can plug in x = 5 in the equation: y = 125,000(1.15)5 = $231,550. Therefore, the correct equation to represent the price of the home x years after 2010 is Option 1: y = 125,000(1.15)x.