Question 439354: each year, the value of the Koenig's house increases by the same mount of money. When they bought the house, it was worth $136,000. Five years later, it was worth $167,040. how much will the house be worth 8 years after they bought it? How many yeas after buying it will it surpass $250,000 in value?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! each year, the value of the Koenig's house increases by the same mount of money. When they bought the house, it was worth $136,000. Five years later, it was worth $167,040. how much will the house be worth 8 years after they bought it? How many yeas after buying it will it surpass $250,000 in value?
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Use formula for straight line, y=mx+b, m=slope, b=y-intercept
Draw a graph with y-axis representing the $ value of the house and x-axis representing years after they bought the house.
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y-intercept = 136000 when they first bought the house
slope,m, =change in value/elapsed years=167040-136000/5=6208
Equation:
y=6208x+136000
After 8 years,
y=6208*8+136000
y=185664
ans:
After 8 years, the house would be worth $185,664
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250000=6208x+136000
250000-136000=6208x
x=(250000-136000)/6208=18.36
ans:
The value of the house would surpass $250,000 after 18.36+ years
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