SOLUTION: Housing prices in your neighborhood have been increasing steadily since you purchased your home in 2005. The relationship between the market value, V, of your home and the length o

Question 257844: Housing prices in your neighborhood have been increasing steadily since you purchased your home in 2005. The relationship between the market value, V, of your home and the length of time, x, you have owned your home is modeled by the symbolic rule
V(x) = 2500x + 125,000
The graph of the rule is a line. What is the slope of this line? What is the practical meaning of slope in this situation?
Determine the vertical intercept. What is the practical meaning of this intercept in the context of this problem?
Determine and interpret the value V(8).
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Housing prices in your neighborhood have been increasing steadily since you purchased your home in 2005. The relationship between the market value, V, of your home and the length of time, x, you have owned your home is modeled by the symbolic rule

V(x) = 2500x + 125,000
The graph of the rule is a line. What is the slope of this line?
slope = 2500
----------------------------------
What is the practical meaning of slope in this situation?
For each year the house gets older the value increases by $2500
----------------------------------

Determine the vertical intercept.
vert. intercept = 125,000
---
What is the practical meaning of this intercept in the context of this problem?
When the house was new it cost $125,000
------------------------------

Determine and interpret the value V(8).
V(x) = 2500x + 125,000
V(8) = 2500*8 + 125000
V(8) = %145,000
====================================
Cheers,
Stan H.
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