The question says that the value has risen steadily, so I'm going to assume each year, the amount increased in the same.
Total Value - Initial Value = Amount increased
750,000 - 60,000 = 690,000
Total years:
2017-1977 = 40 years
Amount increased each year:
690,000/40 = 17250
V(t) = initial amount + amount increased each year x t
Answer:
V(t) = 60000+17250*t
In 19977, a math professor bought her condominium for $60,000. The value of the condo has risen steadily so that in 2007 real estate agents tell her the condo is now worth $750,000. Find a formula to represent these facts about the value of the condo V (t), as a function of time,t, where t is in years after 1977.
2 answers
750,000 - 60,000 = 690,000
2017-1977 = 30 years
690,000/30 = 23,000
V(t) = initial amount + amount increased each year •t
Answer: V (t)=60,000+23,000t
2017-1977 = 30 years
690,000/30 = 23,000
V(t) = initial amount + amount increased each year •t
Answer: V (t)=60,000+23,000t
1 answer