In 1977, a math professor bought her condominium for $60,000.

The value of the condo has risen steadily so that in 2007 real estate agents tell her the condo is now worth $750,000.

Find a formula to represent these facts about the value of the condo V (t), as a function of time,t, where t is in years after 1977

by steadily, do you mean

it rises by the same amount each year
or
it rises by the same percent each year

?

To find a formula that represents the value of the condo V(t) as a function of time t, we can use the concept of linear growth.

Given that the condo was bought for $60,000 in 1977, we can consider this as the initial value (V_0) of the condo.

In 2007, the real estate agents tell the professor that the condo is worth $750,000. This value (V_1) represents the value of the condo after a certain number of years have passed.

Since the time frame is from 1977 to 2007, we need to calculate the number of years that have passed (t) from 1977 to the current year.

We can express the formula as follows:

V(t) = V_0 + (V_1 - V_0) * t

Where:
- V(t) represents the value of the condo as a function of time t
- V_0 is the initial value of the condo ($60,000 in this case)
- V_1 is the value of the condo after a certain number of years ($750,000 in this case)
- t represents the number of years that have passed since 1977

By plugging in the respective values, we can find the specific formula for this scenario.