Answered: Write an equation that models this…

Write an equation that models this situation with t being the number of years since 2009. If this rate of growth continues, what will the averge price of a home in that town be in 2020?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

The average price of a home in a certain town was $125,000 in 2009, but home prices are rising 2% per year.

Write an equation that models this situation with t being the number of years since 2009.

If this rate of growth continues, what will the averge price of a home in that town be in 2020?

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