alex buys a home for 118000. her home increases in value 9% each year. write an equation that models this and find the value of the home after 6 years?

value in 6 years = 118000(1.09)^6

= ....

Okay thanks but what would the equation look like?

ummhhh,

value in 6 years = 118000(1.09)^6

To write an equation that models the increase in the value of Alex's home, we'll use the formula for calculating compound interest:

A = P(1 + r)^n

Where:
A = Final value of the home
P = Initial value of the home
r = Annual interest rate
n = Number of years

In this case, the initial value of the home (P) is $118,000, and the annual interest rate (r) is 9%. We need to find the value of the home after 6 years (n = 6).

Substituting the given values into the formula:

A = 118,000(1 + 0.09)^6

Now we can calculate the value of the home after 6 years by evaluating the expression:

A = 118,000(1.09)^6

Calculating this expression yields:

A ≈ $188,044.89

Therefore, the value of the home after 6 years is approximately $188,044.89.