The median value of a home in a particular market is decreasing exponentially. If the value of a home was initially $240,000, then its value two years later is $235,000. Answer the following. 6) Write a differential equation that models this situation. Let V represent the value of the home (in thousands of dollars) and t represent the number of years since its value was $240,000. 7) Solve for the particular solution in terms of V and t (find the values of all constants). 8) Determine when the value of the home will be 90% of its original value. 9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000. Include units in your answer, and round the final value to the nearest dollar. 10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by the quantity present. Find the relative rate of change in the home's value at any time t.
The median value of a home in a particular market is decreasing exponentially. If the value of a home was initially $240,000, then its value two years later is $235,000. Answer the following. 6) Write a differential equation that models this situation. Let V represent the value of the home (in thousands of dollars) and t represent the number of years since its value was $240,000. 7) Solve for the particular solution in terms of V and t (find the values of all constants). 8) Determine when the value of the home will be 90% of its original value. 9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000. Include units in your answer, and round the final value to the nearest dollar. 10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by the quantity present. Find the relative rate of change in the home's value at any time t.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:The median value of a home in a particular market is decreasing exponentially. If the value of a home
was initially $240,000, then its value two years later is $235,000. Answer the following.
6) Write a differential equation that models this situation. Let V represent the value of the home (in
thousands of dollars) and t represent the number of years since its value was $240,000.
7) Solve for the particular solution in terms of V and t (find the values of all constants).
8) Determine when the value of the home will be 90% of its original value.
9) Determine the rate at which the value of the home is decreasing one year after it is valued at $235,000.
Include units in your answer, and round the final value to the nearest dollar.
10) The relative rate of change in a quantity is defined as the rate of change for that quantity divided by
the quantity present. Find the relative rate of change in the home's value at any time t.
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