The following function represents the value of a house, in dollars, after x years:
f(x) = 242,000(1.04)*
What does 1.04 represent?
• The present value of the house
• The value of the house after x years
• The increase in the value of the house per year, which is 4%
• The value of the house after x years, which will be 4% of the present value