Brielle bought an apartment building for $202,444. The value of the real estate appreciated at a constant rate per year. The table shows the value of the apartment building after the first and second years: Year 1 2 Value (in dollars) $212,566.20 $223,194.51 Which function best represents the value of the apartment building after t years? f (t) = 202,444 (0.05) t f (t) = 202,444 (1.05) t f (t) = 212,566.20 (1.05) t f (t) = 212,566.20 (0.05) t

Question

Lauren Mills

Mathematics

12 February, 03:38

Brielle bought an apartment building for $202,444. The value of the real estate appreciated at a constant rate per year. The table shows the value of the apartment building after the first and second years: Year 1 2 Value (in dollars) $212,566.20 $223,194.51 Which function best represents the value of the apartment building after t years? f (t) = 202,444 (0.05) t f (t) = 202,444 (1.05) t f (t) = 212,566.20 (1.05) t f (t) = 212,566.20 (0.05) t

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Answers (2)

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Andre Jensen · Answer 1

To find the future value, you would multiply the starting value from year one by 1 + the percent of increase per year raised to the number of years you want.,

The starting value of the house would be the value from year one: 212,566.20

The equation would then be: f (t) = 212,566.20 (1.05) t

Brennen Solis · Answer 2

f (t) = 212,566.20 (1.05) t

Step-by-step explanation:

Brielle bought an apartment building for $202,444. The value of the real estate appreciated at a constant rate per year. The table shows the value of the apartment building after the first and second years: Year 1 2 Value (in dollars) $212,566.20 $223,194.51. The function, f (t) = 212,566.20 (1.05) t best represents the value of the apartment building after t years.

In order to find the correct value, you have to multiply the starting value up 1% for each year. This would insure that you would find the correct answer.