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2 November, 08:38

A) Write the exponential equation to represent a house purchased for

$120,000 has an annual appreciation of 6%.

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  1. 2 November, 09:05
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    = A (t) = 120000 (1.06) ^t t = 1 year

    We just add ^12 to equal 1/12 months.

    Then use the notation below.

    Step-by-step explanation:

    We simply want to write an equivalent form of the same equation that will allow for the time period to be calculated in years.

    For one year, t = 1, we want it to grow 6% = 1.06

    Yearly Rate of Growth annual equation: = 7200

    P (i) 7200 / 120000 x 100% = 6% per year growth rate

    the yearly growth factor is 1 + appreciation rate = 1+i = 1+0.06 = 1.06

    So time in years can be added to t

    = A (t) = 120000 (1.06) ^t t = 1 year

    The yearly growth factor = 1.06

    To equate monthly we add the exponent t*12*1/12 before 120000 (1.06) ^t

    then add 1/12 to replace ^t = monthly, or just keep the t = time

    A (t) = 120000 (1.06) ^12t
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