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Belinda is thinking about buying a house for $179,000. The table below shows the projected value of two different houses for three years:


Number of years 1 2 3
House 1 (value in dollars) 186,160 193,606.40 201,350.66
House 2 (value in dollars) 190,000 201,000 212,000


Part A: What type of function, linear or exponential, can be used to describe the value of each of the houses after a fixed number of years? Explain your answer. (2 points)

Part B: Write one function for each house to describe the value of the house f(x), in dollars, after x years. (4 points)

Part C: Belinda wants to purchase a house that would have the greatest value in 30 years. Will there be any significant difference in the value of either house after 30 years? Explain your answer, and show the value of each house after 30 years. (4 points)

Respuesta :

MrRoyal

There are several types of functions, but this question is limited to just 2 types, which are the exponential function and the linear function.

  • House 1 has an exponential function of [tex]f(x) = 179000 * 1.04^x[/tex] while house 2 has a linear function of [tex]f(x) =11000x+179000[/tex].
  • House 1 will have a greater value in 30 years and the difference between the values of the two houses is significant.

The given parameters can be represented as:

[tex]\begin{array}{cccc}{Years} & {1} & {2} & {3} & {House\ 1} & {186,160 } & {193,606.40 } & {201,350.66} & {House\ 2} & {190,000 } & {201,000 } & {212,000} \ \end{array}[/tex]

(a): The type of function

First, we check if the function is linear by calculating the difference between each year

House 1

[tex]d = 193606.40 - 186160 = 7446.4[/tex]

[tex]d = 201350.66 - 193606.40 = 7744.26[/tex]

The difference are not equal; hence, the function is not linear. So, we can assume that it is exponential

House 2

[tex]d = 201000 - 190000 =11000[/tex]

[tex]d = 212000 - 201000 =11000[/tex]

The difference are equal; hence, the function is linear.

(b): The function of each

House 1

An exponential function is represented as:

[tex]y = ab^x[/tex]

When [tex]x = 1;\ y =186,160[/tex]

We have:

[tex]186,160 =ab^1[/tex]

[tex]186,160 =ab[/tex] ---- (1)

When [tex]x = 2;\ y =193606.40[/tex]

We have:

[tex]193606.40 =ab^2[/tex] --- (2)

Divide (2) by 1

[tex]\frac{193606.40}{186160} =\frac{ab^2}{ab}[/tex]

[tex]1.04 = b[/tex]

[tex]b = 1.04[/tex]

Make a the subject in (1)

[tex]186,160 =ab[/tex]

[tex]a = \frac{186160}{b}[/tex]

[tex]a = \frac{186160}{1.04}[/tex]

[tex]a = 179000[/tex]

So, the function for house 1 is:

[tex]f(x) = 179000 * 1.04^x[/tex]

House 2

A linear function is represented as:

[tex]y = mx + b[/tex]

First, we calculate the slope (m)

[tex]m = \frac{y_2 -y_1}{x_2 - x_1}[/tex]

So, we have:

[tex]m = \frac{201000 - 190000}{2 - 1}[/tex]

[tex]m = \frac{11000}{1}[/tex]

[tex]m = 11000[/tex]

So, the equation is:

[tex]y =m(x-x_1) + y_1[/tex]

Substitute known values

[tex]y =11000(x-1) + 190000[/tex]

[tex]y =11000x-11000 + 190000[/tex]

[tex]y =11000x+179000[/tex]

So, the function for house 2 is:

[tex]f(x) =11000x+179000[/tex]

(c): House with the greatest value in 30 years

This means that:

[tex]x = 30[/tex]

For house 1, we have:

[tex]f(x) = 179000 * 1.04^x[/tex]

[tex]f(30) = 179000 * 1.04^{30}[/tex]

[tex]f(30) = 580568.15[/tex]

For house 2, we have:

[tex]f(x) =11000x+179000[/tex]

[tex]f(30) = 11000 * 30+ 179000[/tex]

[tex]f(30) = 509000[/tex]

By comparison;

[tex]580568.15> 509000[/tex]

House 1 will have a greater value in 30 years

And the difference between the values is significant

The difference is:

[tex]d =580568.15-509000[/tex]

[tex]d =71568.15[/tex]

Read more about functions at:

https://brainly.com/question/7296377

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