The current value of a house is $\$174,000$, and this value increases…

Question

Prompt

The current value of a house is

\

174,000

, an d t hi s v a l u e in cr e a ses b y

2.4\%

e a c h y e a r f r o m t h e v a l u eo f t h e p r e v i o u sy e a r . W hi c h f u n c t i o n

g i v es t h e v a l u e, in d o l l a r s, o f t h e h o u se

x$ years from now?

f (x) = 174, 000 (0.024)^{x}

f (x) = 174, 000 (0.24)^{x}

f (x) = 174, 000 (1.024)^{x}

f (x) = 174, 000 (1.24)^{x}