a house was purchased in 1994 for $118,000 it’s appreciates by 4% in value each year Choose weather each statement below is true or false for this exponential function

Question

a house was purchased in 1994 for $118,000 it’s appreciates by 4% in value each year Choose weather each statement below is true or false for this exponential function

Answer 1

1. The value of the house in 2004 is approximately $177,354.

- True

2. The value of the house in 2024 will be over $300,000.
- False

3. The rate of appreciation is increasing over time.
- False

4. The value of the house will never decrease.
- True