SOLUTION: In 1980 the average price of a home in Brainerd County was $95,000. By 1987 the average price of a home was $123,000. Which of the following is a linear model for the price of a ho

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Question 745328: In 1980 the average price of a home in Brainerd County was $95,000. By 1987 the average price of a home was $123,000. Which of the following is a linear model for the price of a home, P in brainerd County in terms of a year, t? let t=0 correspond to 1980.
Answers:
A) P=123,000-4000t B) P=4000t+95,000
C) P= 123,000- 28,000t D) P= 28,000t + 95,000

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Use the point slope formula:
+P+ is plotted on the vertical axis
+t+ is plotted on the horizontal axis
+%28+P+-+95000+%29+%2F+%28+t+-+0+%29+=+%28+123000+-+95000+%29+%2F+%28+7+-+0+%29+
+%28+P+-+95000+%29+%2F+t+=+28000+%2F+7+
+%28+P+-+95000+%29+%2F+t+=+4000+
+P+-+95000+=+4000t+
+P+=+4000t+%2B+95000+
The answer is B)