A house valued at 70,000 in 1989 increased in value to 125,000 in 2000. Find a function which gives the value of the house, v, as a function of y, the number of years after 1989.
Let's determine the years:
2000 - 1989 = 11
Let's determine the change in value:
125,000 - 70,000 = 55,000
Assuming a linear progression, we have:
55,000/11 = 5,000 per year increase
y = 70,000 + 5,000v where v is the number of years after 1989
Plug in 11 to check our work
y = 70,000 + 5,000(11)
y = 70,000 + 55,000
y = 125,000
Let's determine the years:
2000 - 1989 = 11
Let's determine the change in value:
125,000 - 70,000 = 55,000
Assuming a linear progression, we have:
55,000/11 = 5,000 per year increase
y = 70,000 + 5,000v where v is the number of years after 1989
Plug in 11 to check our work
y = 70,000 + 5,000(11)
y = 70,000 + 55,000
y = 125,000