SOLUTION: the price of a home in medford was 100,000 in 1985 and rose to 180,000 in 2001. create 2 models f(t) assuming linear growth and g(t) assuming exponential growth. where t=number of

Question 227396: the price of a home in medford was 100,000 in 1985 and rose to 180,000 in 2001.
create 2 models f(t) assuming linear growth and g(t) assuming exponential growth. where t=number of years after 1985. f(t)=? g(t)=?
Could somebody please help me solve this! Thanks, Mark
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = number of years passed since 1985
Let = price of a home in Medford
The linear growth equation looks like

= slope
dollars/year

When the year is 1985,

So, the linear equation is

so, if in 2001,

------------------------
If the growth is exponential, the form
is
where
In 1985, and

In 2001, and

So, the exponential equation is

check:
For 2001,

OK

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