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Write an exponential equation using y a(b) that
represents the growth or decay of the situation.
A house was purchased for $160,000. The house has an
annual appreciation rate of 8%. Please write a let statement
and an equation that represents the house's value over time.

Sagot :

MrRoyal

Answer:

[tex]y = 160000 * (1.08)^t[/tex]

Step-by-step explanation:

Given

[tex]a = 160000[/tex] --- initial

[tex]r =8\%[/tex] --- rate

Required

The function over time

The function is calculated as:

[tex]y = a(1 + r)^t[/tex]

So, we have:

[tex]y = 160000 * (1 + 8\%)^t[/tex]

Express percentage as decimal

[tex]y = 160000 * (1 + 0.08)^t[/tex]

[tex]y = 160000 * (1.08)^t[/tex]

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