document.write( "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? \n" ); document.write( "

Algebra.Com's Answer #365320 by josmiceli(19441) $\"\"$ $\"About$

You can put this solution on YOUR website!
Let $\"+a+=+225000+\"$
\n" ); document.write( "House is worth:
\n" ); document.write( "1st year:
\n" ); document.write( " $\"+a+\"$
\n" ); document.write( "2nd year:
\n" ); document.write( " $\"+a+%2B+.03a+\"$
\n" ); document.write( " $\"+a%2A%28+1+%2B+.03+%29+\"$
\n" ); document.write( "3rd year:
\n" ); document.write( " $\"+a+%2B+.03a+%2B+.03%2A%28+a+%2B+.03a+%29+\"$
\n" ); document.write( " $\"+%28+a+%2B+.03a+%29%2A%28++1+%2B+.03+%29+\"$
\n" ); document.write( " $\"+a%2A%28+1+%2B+.03+%29%5E2+\"$
\n" ); document.write( "4th year:
\n" ); document.write( " $\"+a%2A%28+1+%2B+.03+%29%5E2+%2B+.03%2A%28+a%2A%28+1+%2B+.03%29%5E2+%29+\"$
\n" ); document.write( " $\"+a%2A%28+1+%2B+.03+%29%5E2+%2A+%28+1+%2B+.03+%29+\"$
\n" ); document.write( " $\"+a%2A%28+1+%2B+.03+%29%5E3+\"$
\n" ); document.write( "-----------------
\n" ); document.write( "The equation is
\n" ); document.write( " $\"+y+=+1.03%5Ex+\"$
\n" ); document.write( "2012 is 17 years after house was built, so
\n" ); document.write( "the house is worth:
\n" ); document.write( " $\"+y+=++1.03%5E17+\"$
\n" ); document.write( "You could solve this directly with calculator,
\n" ); document.write( "or use logs
\n" ); document.write( " $\"+log%28y%29+=+17%2Alog%28+1.03+%29+\"$
\n" ); document.write( "Then you get $\"+log%28y%29+\"$ = some number
\n" ); document.write( "the, $\"y\"$ = 10 raised to that number.
\n" ); document.write( "I don't have a calculator right now \n" ); document.write( "

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