Question
A 2 year old apartment building was sold for $155000. The owners calculated that the building appreciated $5000 per year while they owned it.
Find a linear function that describes the value of the building over time, if x is a number of years since the original purchase.
Find a linear function that describes the value of the building over time, if x is a number of years since the original purchase.
Answers
If its value grew by $5000/year for 2 years, then it was worth $10,000 more than it cost them. So, 2 years ago, it was worth $145,000. That means the value
v = 145,000 + 5000x
v = 145,000 + 5000x
Function: V = Vo + 5000x.
V = Value over time.
Vo = Original value.
155,000 = Vo + 5000*2,
Vo = $145,000.
V = Value over time.
Vo = Original value.
155,000 = Vo + 5000*2,
Vo = $145,000.
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