SOLUTION: A house was built in 1995 and it was valued at $225,000. Each year the house goes up 3%. What is the equation giving value of house x years after 1995, and how much will the house

Question 564306: A house was built in 1995 and it was valued at $225,000. Each year the house goes up 3%. What is the equation giving value of house x years after 1995, and how much will the house be in 2012?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let
House is worth:
1st year:

2nd year:

3rd year:

4th year:

-----------------
The equation is

2012 is 17 years after house was built, so
the house is worth:

You could solve this directly with calculator,
or use logs

Then you get = some number
the, = 10 raised to that number.
I don't have a calculator right now
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