Exponential Question
1) The average price of a home in Spartanville was $146,000 in 2014, however home prices have been falling by 2% per year.
a) Identify the independent and dependent variables.
b) Write a formula that models this information.
c) How much will the average home be worth in 2018?
d) If this trend continues, when will the average home be worth $110,000?
So I alredy did a-c (a. independent variable is the years since 2014 and the dependent was the amount of money the house cost) (b. y=146000(.98)^t) (c. y=146000(.98)^4= $134,665.75) However I don’t know how to answer the last question. Thanks
