Word problem help?

Question

In 2012, the average price of a new home sold in a country was $286,400. In 2004, the average price of a new home in the same country was $292,000. Let y be the average price of a new home in the year x, where xequals=0 represents the year 2004.
a. Write a linear equation that models the average price of a new home in terms of the year x.
[Hint: The line must pass through the points (0, 292000 ) and (8, 286400 ).]
b. Use this equation to predict the average price of a new home in 2015.

Answer 1

m = (292,000 - 286,400)/(0 - 8) = 5600/-8 = -700

 

y = -700x + 292,000

 

2015 - 2004 = 11

 

f(11) = -700(11) + 292,000

f(11) = -7700 + 292,000

f(11) = 284,300