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3 March, 05:06

Sean's house is currently worth $188,900. According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year. The given function represents the value of Sean's house after t years.

f (t) = 188,900 (1.048) ^t

Which statement is true?

A.

The expression (1.0237) 12t reveals the approximate monthly growth rate of the value of Sean's house.

B.

The expression (1.0237) 4t reveals the approximate quarterly growth rate of the value of Sean's house.

C.

The expression (1.0118) 4t reveals the approximate quarterly growth rate of the value of Sean's house.

D.

The expression (1.0118) 12t reveals the approximate monthly growth rate of the value of Sean's house.

+3
Answers (2)
  1. 3 March, 05:17
    0
    Step-by-step explanation:

    The function representing the value of Sean's house after t years is expressed as

    f (t) = 188,900 (1.048) ^t

    Where the current price of the house is $188,900

    According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year.

    Looking the the given function, the statement that is true is

    The expression (1.0118) 4t reveals the approximate quarterly growth rate of the value of Sean's house.
  2. 3 March, 05:23
    0
    Given

    Sean's house is currently worth $188,900.

    According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year.

    To prove

    Formula

    Where r is the rate in the decimal form.

    As given

    = 0.048

    Put in the formula

    Now also calculated monthly.

    Formula

    As given

    = 0.048

    Put in the formula

    As the approximation quarterly growth rate of the value of sean's house is near the Compounded quarterly interest.

    Thus Option (A) is correct.

    i. e

    The expression reveals the approximate quarterly growth rate of the value of Sean's

    House
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Home » Mathematics » Sean's house is currently worth $188,900. According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year. The given function represents the value of Sean's house after t years. f (t) = 188,900 (1.
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