Question

A house is purchased for $300,000 and its value appreciates by 3.25% every three years. Write an exponential model to represent the value of the house over time.

Answer 1

To represent the value of the house over time, you can use the exponential model V = 300,000 * (1 + 0.0325)^n.

Step-by-step explanation:

To represent the value of the house over time, we can use an exponential model. Let's assume that the value of the house after n years is represented by V.

Given that the house is purchased for $300,000 and its value appreciates by 3.25% every three years, we can write the exponential growth formula as follows:

V = 300,000 * (1 + 0.0325)^n

This formula will give you the value of the house after n years.