Question

Jessa bought her home for $125,000 in 2010. Property values have increased 15% every year since she has owned the home. Which of the following equations can be used to represent the price of the home x years after 2010?

Answer 1

Answer: y = 125000(1.15)^x

Explanation:

The formula we use is y = p(1 + r)^x p is price and r is rate

the initial price is $125000 and the rate is 15%, or 0.15.

y = 125000(1 + 0.15)^x

y = 125000(1.15)^x

Answer 2

y= 125,000 (1.15x)

Explanation: