Question

The price of a home in Medford was $ 100,000 in 1985 and rose to $ ⁢ 170 ,000 in 1999 .
a. Create two models, f ( t ) assuming linear growth and     g ( t ) assuming exponential growth, where t is the number of years after 1985 . Round coefficients to three decimal places when necessary. f ( t ) =     g ( t ) =

b. Fill in the following table using the equations you just found. Use the exact equation for exponential growth.
Round your answers to the nearest integer.

Answer 1

b)

		Linear growth	Exponential growth
Year	t (in Years)	f(t)	g(t)
1985	0	$1,00,000	$1,00,000.00
1986	1	$1,05,000	$1,03,862.95
1987	2	$1,10,000	$1,07,875.12
1988	3	$1,15,000	$1,12,042.27
1989	4	$1,20,000	$1,16,370.41
1990	5	$1,25,000	$1,20,865.73
1991	6	$1,30,000	$1,25,534.71
1992	7	$1,35,000	$1,30,384.05
1993	8	$1,40,000	$1,35,420.71
1994	9	$1,45,000	$1,40,651.94
1995	10	$1,50,000	$1,46,085.25
1996	11	$1,55,000	$1,51,728.45
1997	12	$1,60,000	$1,57,589.63
1998	13	$1,65,000	$1,63,677.24
1999	14	$1,70,000	$1,70,000.00
2000	15	$1,75,000	$1,76,567.01
2001	16	$1,80,000	$1,83,387.70
2002	17	$1,85,000	$1,90,471.87
2003	18	$1,90,000	$1,97,829.69
2004	19	$1,95,000	$2,05,471.74
2005	20	$2,00,000	$2,13,409.01