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The equation V=211000 (1.08)tV=211000 (1.08)t represents the value (in dollars)of a house t years after its purchase.

The equation V=211000 (1.08)tV=211000 (1.08)t represents the value (in dollars)of-example-1
The equation V=211000 (1.08)tV=211000 (1.08)t represents the value (in dollars)of-example-1
The equation V=211000 (1.08)tV=211000 (1.08)t represents the value (in dollars)of-example-2

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We will have the following:

The value of this house is increasing at a rate of 8 percent per year.

The purchase price of the house was $211 000 dollars.

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