You have inherited land that was purchased for $30,000 in 1960. The value of the land increased by approximately 5% per year.

Question

What is the initial value or y intercept? (a value)

Answer 1

The initial value or y-intercept in this context is the purchase price of the land when it was bought in 1960, which is $30,000.

So, the initial value (y-intercept) is:

$30,000.