SOLUTION: In the year 1990, a house was appraised for $97,200. By the year 1998 the value had increased to $115,600. Assume the rate of appreciation is linear. A) If we let x represent ye

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: In the year 1990, a house was appraised for $97,200. By the year 1998 the value had increased to $115,600. Assume the rate of appreciation is linear. A) If we let x represent ye      Log On


   

Question 820928: In the year 1990, a house was appraised for $97,200. By the year 1998 the value had increased to $115,600. Assume the rate of appreciation is linear.
A) If we let x represent years since 1990 and y represent the value of the house, what two ordered pairs are implied in the problem?
B) Find a linear equation in the form y=mx+b that gives the value of the house x years after 1990
Answer by josgarithmetic(39620) About Me  (Show Source):
You can put this solution on YOUR website!
Identify two (x,y) data points. You are interested in count of years since 1990.
(0, 97200) and (8, 115600)

If you are comfortable enough with the slope-intercept form of a line, then you know what to do.

Briefly, you can use this: m=%28115600-97200%29%2F%288-0%29 and then pick either point to solve b=y-mx.