SOLUTION: Your friend Jared decided to invest in real estate. He purchased a house that was worth $222,000, and the value of the house increased by 7% each year for the next several years.

Question 1128640: Your friend Jared decided to invest in real estate. He purchased a house that was worth $222,000, and the value of the house increased by 7% each year for the next several years.
A)The value of the house any given moment is what percent of the value of the house exactly one year prior?
B)What number do we have to multiply the house's value by to determine the house's value one year later?
C)Write a function f that determines the value of the house (in thousands of dollars) in terms of the number of years t since Jared purchased the house.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
(A) 107%
(B) 1.07
(C) ( in thousands of dollars )

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