Question

A lot was purchased for $20,000 in 2005 and sold for $38,000 in 2011. Which of the following linear equations best models the value of the lot since 2005? y =4,000x + 38,000 y = 3,000x + 20,000 y = 3,000x - 20,000 y= 4,000x - 38000

Answer 1

y = 3,000x + 2000

Explanation:

38000-20000 = $18,000

18000/6 = $3,000 increase every x years

y = 3,000x + 20,000