Question

Due to crime rates in a certain city, home values depreciate by 4% each year. If

a home was purchased $315,000, which equation best describes the value of
the home in t years
a) y = 315,000(0.04)*
b) y = 315,000(0.96)*
c) y = 315,000(1.04)*
d) y = 315,000(1.96)*

Answer 1

It is C, when you have rate you convert it into decimal form so 4%=0.04 and in your parentheses you add 1 to the decimal. Good luck on your test and hope this helps!