Which is an exponential growth function?A home’s value increases at an average rate of 5.5% each year. The current value is $120,000. What function can be used to find the value of the home after x years?f(x) = 120,000(1.055x)f(x) = 120,000(0.055)xf(x) = 120,000(1.055)xf(x) = [(120,000)(1.055)]x

Accepted Solution

Answer:[tex]f(x)=120,000(1.055)^{x}[/tex]Step-by-step explanation:In this problem we have a exponential function of the form[tex]f(x)=a(b)^{x}[/tex]wheref(x) a home's valuex the number of yearsa is the initial valueb is the baseb=(1+r)r is the rate of grownwe havea=$120,000r=5.5%=5.5/100=0.055b=1+0.055=1.055substitute[tex]f(x)=120,000(1.055)^{x}[/tex]