Pre-calculus Problems
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Please help with the following posting. Provide step by step calculations for each.
Your Grandfather purchased a house for $55,000 in 1952 and it has increased
in value according to a function y = v(x), where x is the number of years owned.
These questions probe the future value of the house under various mathematical models.
(a) Suppose the value of the house is $75,000 in 1962. Assume v(x) is a linear function. Find a formula for v(x). What is the value of the house in 1995? When will the house be valued at $200,000?
(b) Suppose the value of the house is $75,000 in 1962 and $120,000 in 1967. Assume v(x) is a quadratic function. Find a formula for v(x). What is the value of the house in 1995? When will
the house be valued at $200,000?
(c) Suppose the value of the house is $75,000 in 1962. Assume v(x) is a function of exponential type. Find a formula for v(x). What is the value of the house in 1995? When will the house be valued at $200,000?
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