Braden bought a piece of commercial real estate for $101,234. The value of the real estate appreciated at a constant rate per year. The table shows the value of the real estate after the first and second years: Year 1 2 Value (in dollars) $104,271. 02 $107,399. 15 Which function best represents the value of the real estate after t years? f(t) = 101,234(1. 03)t f(t) = 101,234(0. 03)t f(t) = 104,271. 02(1. 03)t f(t) = 104,271. 02(0. 03)t.

Answers

Answer 1

The function that best represents the value of the real estate after t years is: [tex]f(t) = 101234(1.03)^t[/tex]

The table is represented as:

Years  - Values

1          -  $104,271. 02

2         -  $107,399. 15

Appreciation and depreciation are often represented using exponential function as follows:

[tex]f(x) = ab^x[/tex]

At year 1, we have:

[tex]104271. 02 = ab^1[/tex]

[tex]104271. 02 = ab[/tex]

At year 2, we have:

[tex]107399. 15 = ab^2[/tex]

Divide both equations

[tex]\frac{107399.15}{104271.02} = \frac{ab^2}{ab}[/tex]

[tex]1.03 = b[/tex]

Rewrite as:

[tex]b = 1.03[/tex]

He bought the real estate for $101,234.

So, we have:

[tex]a = 101234\\[/tex]

Substitute values for (a) and (b) in [tex]f(x) = ab^x[/tex]

[tex]f(x) = 101234(1.03)^x[/tex]

Replace x with t

[tex]f(t) = 101234(1.03)^t[/tex]

Hence. the function that best represents the value of the real estate after t years is: [tex]f(t) = 101234(1.03)^t[/tex]

Read more about exponential functions at:

https://brainly.com/question/12940982


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