Question

Eden purchased a home for $156,200. The home appreciates about 4.5% each year. What is the value of the home after 17 years?

Answer 1

This is exponential growth:

156,200(1.045)^17 = $330,109.46

Answer 2

oh ok I remember

Answer 3

Your welcome!

Answer 4

and can I use this formula for something that depreciates?

Answer 5

Yes, then there will be a minus sign after the 1 inside the parenthesis

Answer 6

4.5% = .045

So in exponential growth, what is inside parenthesis is 1 + .045 = 1.045

If it was depreciating at 4.5% a year, the you will have (1-.045) or (.955) inside the parenthesis.

Answer 7

so $2,285(1-0.011)^6

Answer 8

2,285(0.989)^6

Answer 9

2,285(935788598650465561)

Answer 10

that is supposed to be a decimal.

Answer 11

then multiply correct

Answer 12

I have another problem that's the same as the last one. but I think im doing something wrong.
83,945(1+0.013)^21
83,945(1.013)^21
83,945(1.311590772)
110101.48