Question

The equation y=250,000(1.1)x closely models the value of his home, y, when x is the number of years since 2002.

Using this equation, what would we have expected to be the value of his condo in the year 2006?

Value in 2006:

Answer 1

The value in 2006 is 366,025

Explanation:

Here, we want to get the value of y in 2006

what we have to do here is to find and substitute the missing value of x

The missing value x is the difference between the number of years in 2002 and 2006

we have this as 2006-2002 = 4

so we have to substitute 4 here for x

Thus, we have this as;

y = 250,000(1.1)^4

y = 366,025