Suppose that the dollar value v (1) of a certain house that is / years old is given by the following exponential function. v (1) = 637,000(1.06)' Find the initial value of the house. Does the function represent growth or decay? O growth O decay By what percent does the value of the house change each year?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 65SGR
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Suppose that the dollar value v (t) of a certain house that is t years old is given by the following exponential function.
v (1) = 637,000(1.06)
Find the initial value of the house.
Does the function represent growth or decay?
O growth
O decay
By what percent does the value of the house change each year?
Transcribed Image Text:Suppose that the dollar value v (t) of a certain house that is t years old is given by the following exponential function. v (1) = 637,000(1.06) Find the initial value of the house. Does the function represent growth or decay? O growth O decay By what percent does the value of the house change each year?
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