A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years? f(x) = 120,000(1.055)x f(x) = 120,000(0.055)x f(x) = 120,000(1.055)x f(x) = [(120,000)(1.055)]x

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wagonbelleville wagonbelleville · Answer 1 · 2019-01-14T05:04:30-05:00

Answer:

$f(x)=120,000 \times (1.055)^{x}$.

Step-by-step explanation:

We are given that,

The present value for the home is $120,000 and the rate of interest is 5.5% i.e. 0.055.

As we know that the function for the home is given by,

$f(x)=P \times (1+r)^{x}$

where P = present value, r = rate of interest, x = number of years.

So, according to the question, we get that,

$f(x)=120,000 \times (1+0.055)^{x}$

i.e. $f(x)=120,000 \times (1.055)^{x}$.

Hence, we see that the function that represents the value of the home is $f(x)=120,000 \times (1.055)^{x}$.

joaobezerra joaobezerra · Answer 2 · 2022-02-14T07:41:57-05:00

The exponential function that is used to find the value of the home after x years is:

$f(x) = 120000(1.055)^x$

A increasing exponential function is modeled by:

$A(t) = A(0)(1 - r)^t$

In which:

In this problem:

A home’s value increases at an average rate of 5.5% each year, hence r = 0.055.

Thus, the function is:

$f(x) = A(0)(1 + r)^x$

$f(x) = 120000(1 + 0.055)^x$

$f(x) = 120000(1.055)^x$

You can learn more about exponential functions at https://brainly.com/question/25537936