A house was purchased in 1994 for $118,000. It appreciates by 4% in value each year.
Choose whether each statement below is true or false for this exponential function.
(3 points)
True False
In 2024, the house will be worth $382,720.91
This scenario can be represented by: f(x)=118,000*(1.04)x
After 20 years, the house would be valued at $358,552.53
This scenario can be represented by: f(x)=118,000*(0.96)x
The value of the house is an example of exponential growth.
The value of the house is decreasing over time.
True
False
True
False
i need 2 more
The house will double in value after 17.6 years True False
This scenario can be represented by: f(x) = 118,000 * 2(0.04)x
After 30 years, the house will be worth $473,969.31 True False
This scenario can be represented by: f(x) = 118,000 * (1.04)30