Question

Exponential & Logarithmic Functions
Please Help ASAP! The question is in the picture.

Sam purchases a house for $150,000 near Thurmond Lake. The value of houses in the area where the house was purchased is averaging an increase of 7% per year.

What would be the growth factor (multiplier)?

If the trend continues how much would the house be worth 12 years after Sam purchased the house?

Answer 1

Answer:

What would be the growth factor (multiplier)?

Continuously compounded:

e or 2.718.

Simple interest:

1.84

If the trend continues how much would the house be worth 12 years after Sam

purchased the house?

Continuously compounded:

$347,455.05

Simple interest:

$276,000.00

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Step-by-step explanation: