Ahome’s value increases at an average rate of 5.5% each year. the current value is $120,000. what function can be used to find the value of the home after x years?

For the answer to the question above,
5.5% converted to a decimal is 0.055.
However, the house already retains 100% of it's value each year, with 5.5% as an increase.
therefore we can use the function f(x) = 120,000(1.055)x to solve this.