The following function represents the value of a house, in dollars, after x years: f(x) = 242,000(1.04)x what does 1.04 represent? the present value of the house the value of the house after x years the increase in the value of the house per year, which is 4% the value of the house after x years, which will be 4% of the present value

the 1.04 represents the increase in the house value each year, which is 4%

The correct option is 3.

Step-by-step explanation:

The general exponential growth model is

               .... (1)

where, a is the initial value, r is growth rate per period and x is number of periods. Here (1+r) is growth factor.

The given function is

It can be written as

      .... (2)

From (1) and (2) we get

In the given function 1.04 is growth factor. It means it represents increase in the value of the house per year which is 4%.

Therefore the correct option is 3.

sorry i need the points

step-by-step explanation:

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the answer is a if my teacher taught me correct