A three-bedroom house in North Augusta sold for $190,000. If housing prices are expected to increase 1.8% annually in that town, write an function models the price of the house in t years. Find the price of the house in 5 years.

we know that the initial price of the house is $190,000.

We also know that the expected increase is 1.8%, this means that the year zero we have no increase; the price is $190,000.

one year after we have an increase of the 1.8% (or 0.018 in decimal form), this means that the new price is:

$190,000 + $190,000*0.018 = $190,000*(1.018)

another year after, we have:

$190,000*(1.018)*(1.018) = $190,000*(1.018)^2

and etc

The function that models the price as a function of the years, represented as y, is:

P(y) = $190,000*(1.018)^y

If we want to know the price in 5 years, we need to replace y = 5 in the equation:

p(5) = $190,000*(1.018)^5 = $207,726.80

Step-by-step explanation:

hope this helps you

step-by-step explanation:

answer:

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

explanation:

service only with 20% tip  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

in the opening of the question the word 'service' is associated only with the pretax value.

the closing part of the question asks: how much did she pay for the  

service

−−−−−−  

so technically the answer is  

→

$

72.6

(

1

+

20

100

)

=

$

87.12

however, the intention of the question provider may have been that your answer is to be  

$

87.12

(

1

+

8

100

)

=

$

94.09

to 2 decimal places.

'

payment just for service  

→

$

87.12

payment for service including tax

→

$

94.09

tony b

mar 21, 2017

answer:

trying to explain it another way

explanation:

service charge  

.

→

$

72.60

20% tip  

20

100

×

$

72.60

=

$

14.52

−−−−−−  

←

add

$

87.12

tax  

8

100

×

$

87.12

=

$

6.97

−−−−−  

←

add

$

94.09

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