Question

Luca bought his home for $115,000 in 2007. Property values have increased 5% every year since he has owned the home. Which of the following equations can be used to represent the price of the home x years after 2007?

y = 115,000(1.5)x
y = 115,000(0.95)x
y = 115,000(1.05)x
y = 115,000(0.05)x

Answer 1

Am I right with C?

Answer 2

@tetsxpreme

Answer 3

@timmyspu

Answer 4

I would believe so.

Answer 5

I would say your correct

Answer 6

i looked at this question online and some say after 2010, does it matter if it says 2007 or 2010?

Answer 7

That would be correct.

B and D can be eliminated because the question says it "increased" and anything under 1.00 is considered a decrease.

A would also be wrong because 1.5 is the equivalence of a 50% increase, NOT 5%.

That leaves us with C which is 1.05 which is 5%

Answer 8

THANK YOU

Answer 9

oh alright

Answer 10

yea, and no problem :)