A house was purchased for 140000 Three yeards later the valu

A house was purchased for $140,000. Three yeards later, the value of the house was $155,000. If the value V of the house increased linearly from the date it was purchased, which of the following represents the value, in dollars, of the house t years after the date it was purchased?

(a) V = 140,000 + 15,000t

b) V = 140,000 = 5,000t

c) V = 140,000 +15,000(t-3)

d) V = 140,000 + 5,000(t-3)

Solution

At time t = 0 value of house = $ 140,000 ---( 0, 140,000)

t = 3yrs value of house = $ 155,000 ---( 3, 155000)

Slope = (155000 -140000)/3 = 15000/3 = 5000

Use slope intercept form of equation model the situtaion: V= mt +C

V = 140,000 +5000t

Option b)