Question

The following function represents the value of a house, in dollars, after x years:
f(x) = 242,000(1.04)^x

What does 242,000 represent?

The present value of the house

The value of the house after x years

The increase in the value of the house each year

The increase in the value of the house after x years

Answer 1

@mathmale

Answer 2

@reemii

Answer 3

@vishweshshrimali5

Answer 4

so, let's see the price of the house after "x" years
then \(\begin{array}{llll}
years&price
\\\hline\\
0&242,000(1.04)^0\\
1&242,000(1.04)^1\\
2&242,000(1.04)^2\\
3&242,000(1.04)^3\\
4&242,000(1.04)^4\\
...&...
\end{array}\)

so... what do you think 242,000 represents?

Answer 5

the current price of the house

Answer 6

\(\begin{array}{llll}
years&price
\\\hline\\
0&242,000(1.04)^0\implies 242,000(1)\implies 242,000\implies current\ price\\
1&242,000(1.04)^1\\
2&242,000(1.04)^2\\
3&242,000(1.04)^3\\
4&242,000(1.04)^4\\
...&...
\end{array}\)
after 0 years, that is, today, is 242,000
yeap

Answer 7

ok so what' next?

Answer 8

well... if you have 242,000, you buy it :)
if not, just get some ice-cream :)

nothing, is all