The median value of a home in a particular market is decreasing exponentially. If the value of a home was initially $240,000, then its value two years later is $235,000. Answer the following. 9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000. Include units in your answer, and round the final value to the nearest dollar. 10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by the quantity present. Find the relative rate of change in the home's value at any time t.
The median value of a home in a particular market is decreasing exponentially. If the value of a home was initially $240,000, then its value two years later is $235,000. Answer the following. 9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000. Include units in your answer, and round the final value to the nearest dollar. 10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by the quantity present. Find the relative rate of change in the home's value at any time t.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 3SE: The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but...
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Transcribed Image Text:The median value of a home in a particular market is decreasing exponentially. If the value of a home
was initially $240,000, then its value two years later is $235,000. Answer the following.
9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000.
Include units in your answer, and round the final value to the nearest dollar.
10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by
the quantity present. Find the relative rate of change in the home's value at any time t.
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