Question

Consider the exponential function

g(x)=190,000•1.03x, which models the value of Evie’s house, where x represents the number of years since she purchased the house.




What is the value of Evie’s house after 5 years rounded to the nearest dollar?

Answer 1

$220262

Explanation:

We are given that an exponential function

`g(x)=190000\cdot(1.03)^x`

Where x=Number of years

We have to find the value of Evie's house after 5 years .

Substitute the values in the given function

`g(5)=190000\cdot(1.03)^5`

`g(5)=220262.07`

`g(5)\approx 220262`

Hence, the value of Evie's house after 5 years=$220262