A particular new home was purchased for $550,000 in the year 2020. The value has been increasing at thecontinuous rate of 10% per year.Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year2020.dollarsFind the value of the new home in the year 2023.Submit Question

Given, Purchase amount of the home = $550,000 The amount increases by 10% every year.

Answered: Write an equation for y, 2020.

Math

Algebra

Write an equation for y, 2020.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter6: Exponential Functions And Sequences

Section: Chapter Questions

Problem 18CR

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

Question

A particular new home was purchased for $550,000 in the year 2020. The value has been increasing at the
continuous rate of 10% per year.
Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year
2020.
dollars
Find the value of the new home in the year 2023.
Submit Question

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