Precalc question

Question

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?

Answer 1

From 55 to 75 in 10 yrs=2/yr.

33*2=66+75=$141,000. To hit 59 more you need 29.5 more yrs.