Question

Suppose that the dollar value v(t) of a certain house that is t year's old is given by the following function.v(t)= 476,000 (1.01)t

Answer 1

Solution

We are given the function

$\begin{gathered} v(t)=476,000(1.01)^t \\ \\ Initial\text{ Value}=476,000 \\ \\ We\text{ also have growth} \\ \\ The\text{ percentage growth }1\text{ \%} \end{gathered}$