The average price of a home in a town was $178,000 in 2007 but home prices are rising by 7% per year.

a. Find an exponential function of the form Q=Q₀ x (1+r)t (where r >0) for growth to model the situation described.

Answer= Q=$________ x (1+_____)^t

b. Fill the table showing the value of the average price of a home for the following five years.

Year=t Average Price

0 $_________

1 $_________

2 $_________

3 $_________

4 $_________

5 $_________