The house was bought for $125,000 in 1990, the overage rate is 7.85%, what year will the purchase of the house be worth 3 times the purchase price?

2005

Step-by-step explanation:

Exponential function to determine the value of item after t years,

, where r= rate of growth, A=Initial value.

As per given , A = 7.85% = 0.0785

A = $125,000

Substitute all values in function, we get

When f(x)= 3A , then

Taking tog on both sides , we get

The year will be 1990+15= 2005

Hence, the required year = 2005

1. d.90

2. e. none of these (80)

3. a. 0

4. b. 6

5. e. none of these (10)

6. a. 5