A house valued at 70,000 in 1989 increased in value to 125,000 in 2000. Find a function which gives

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    A house valued at 70,000 in 1989 increased in value to 125,000 in 2000. Find a function which gives the value of the house, v, as a function of y, the number of years after 1989.

    Let's determine the years:
    2000 - 1989 = 11

    Let's determine the change in value:
    125,000 - 70,000 = 55,000

    Assuming a linear progression, we have:
    55,000/11 = 5,000 per year increase

    y = 70,000 + 5,000v where v is the number of years after 1989

    Plug in 11 to check our work
    y = 70,000 + 5,000(11)
    y = 70,000 + 55,000
    y = 125,000
     

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