In July 2012, Alvarado Niles bought a house for $187,000. In September 2013, a nearby house with the same floor plan was sold for $206,000. (a) Develop a model that represents the value of the house. (Write your model in terms of t, where t is measured in months after July 2012. Round the coefficient of t to seven decimal places.) (b) Use the model to predict when the house will double its 2012 value. (Round your answer to one decimal place.) (c) Use the model to determine the value of the house one year after Mr. Niles purchased it. (Round your answer to the nearest whole number.) (d) Use part (c) to determine the rate at which the value of the house grew per month. (Round your answer to the nearest cent.)
In July 2012, Alvarado Niles bought a house for $187,000. In September 2013, a nearby house with the same floor plan was sold for $206,000.
(a) Develop a model that represents the value of the house. (Write your model in terms of t, where t is measured in months after July 2012. Round the coefficient of t to seven decimal places.)
(b) Use the model to predict when the house will double its 2012 value. (Round your answer to one decimal place.)
(c) Use the model to determine the value of the house one year after Mr. Niles purchased it. (Round your answer to the nearest whole number.)
(d) Use part (c) to determine the rate at which the value of the house grew per month. (Round your answer to the nearest cent.)
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