Ahouse worth $70,000 when purchased was worth $67,000 after the first year and $64,000 after the second year. if the economy does not improve and this trend continues, what will be the value of the house after 7 years? a) write an explicit formula for the sequence. explain where you found the numbers you are putting in the formula. b) identify the value of n and explain where you found it. use the explicit formula to solve the problem.

a) The formula for the sequence is

b)

Step-by-step explanation:

Note that the difference between any two consecutive terms in the sequence is always equal to $3,000

Then we have an arithmetic sequence where each term increases by a magnitude of 3,000 with respect to the previous term.

The explicit formula for an arithmetic sequence is:

Where d is the common difference between the consecutive terms of the sequence

is the first term, or the value of the house after year 1

n represents the number of years since the house was purchased

With

n={0, 1, 2, 3, 4, 5, 6, 7,.., n}

a) Then the formula for the sequence is

With

n={0, 1, 2, 3, 4, 5, 6, 7,.., n}

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b) Now we can use the formula to find the price of the house after 7 years

step-by-step explanation: