Twenty years ago, mr. davis purchased his home for $160,000. since then, the value of the home has
increased about 5% per year. use an exponential function to find the value of the home today.

The value of home today is $ 424527.63

Solution:

Given that, Twenty years ago, Mr. Davis purchased his home for $160,000

Since then, the value of the home has  increased about 5% per year

To find: Exponential function to find the value of home today

The exponential growth function is given by:

Where, "y" is the worth after "t" years

"a" is the initial amount

"r" is the rate of interest per year

From given information,

a = 160000

t = 20 years

Substituting the values we get,

Thus the exponential function is found

Let us find the value

Thus the value of home today is $ 424527.63

i think it's either c or d

step-by-step explanation: the entire question is extremely odd. 04 obviously refers to the interest rate. honestly i will say the answer is c. because the (2 x 12) part would mean it's compounded semiannually. i'll say choose c.

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of