Question

The value of a $225,000 house increases at a rate of 3.5% each year. Use a graph to predict the value of the house in 8 years.
A) ≈ $276,582
B) ≈ $286,263
C) ≈ $306,652
D) ≈ $296,282

Answer 1

The growth function is
V (t)=V0 (1+r)^t
V (t) ?
V0 225000
R 0.035
T 8 years

V (8)=225,000×(1+0.035)^(8)
V (8)=296,282

Answer 2

The value of the house in 8 years. (D) ≈ $296,282

How to predict the value?

The given parameters are:

Initial value, a = $225,000

Rate, r = 3.5%

The scenario is an illustration of an exponential growth function.

So, we have:

V(x) = a * (1 + r)^x

Substitute known values

V(x) = 225000 * (1 + 3.5%)^x

This gives

V(x) = 225000 * (1.035)^x

Next, we plot the graph of V(x)

See attachment

From the attached graph

V(x) = $296,282

Read more about exponential functions at:

https://brainly.com/question/11464095

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