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A particular new home was purchased for $230,000 in the year 2020. The value has been increasing at the continuous rate of 3% per year.

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A particular new home was purchased for $230,000 in the year 2020. The value has been increasing at the continuous rate of 3% per year. Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year 2020. y = dollars Find the value of the new home in the year 2029. $

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