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13 August, 20:03

Which statement (s) can be interpreted from the equation for a real estate value, V (C) = 228,000 (1.03) ' where V (C) represents the value of the real estate and t represents the time in years?

The equation is an exponential growth equation.

The equation is an exponential decay equation

The equation is neither exponential decay nor exponential growth

$228,000 represents the initial cost of a real estate that appreciates 3% per year over the course of years.

$228,000 represents the initial cost of a real estate that appreciates 30% per year over the course of t years

$228,000 represents the initial cost of a real estate that depreciates 3% per year over the course of t years

$228,000 represents the initial cost of a real estate that depreciates 30% per year over the course of t years

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  1. 13 August, 23:11
    0
    The equation is an exponential growth equation.

    $228,000 represents the initial cost of a real estate that appreciates 3% per year over the course of years.

    Step-by-step explanation:

    the correct equation is: V (C) = 228,000 (1.03) ^t

    Hi, to answer this question we have to apply an exponential growth equation:

    A = P (1 + r) t

    Where:

    p = initial cost

    r = growing rate (decimal form)

    t = years

    A = cost after t years

    Before applying the formula:

    1.03 = 1+r

    1.03-1 = r

    0.03=r

    Replacing with the values given:

    A = 228,000 (1 + 0.03) ^t

    r = 0.03

    Since r is in decimal form, we have to multiply it by 100

    0.03 x 100 = 3% appreciation per year

    Feel free to ask for more if needed or if you did not understand something.
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