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02.06.2021 •
Mathematics
A baseball card that was valued at $200 in 1980 has increased in value by 7% each year. Write a function to model this situation, then find the value of the card in 2016
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Ответ:
$2284.6
Step-by-step explanation:
Given data
Principal= $200
Rate= 7%
Time= 1980-2016= 36 years
The expression for the exponential model is given as
A= P(b)^t
b=1+rbecause will are dealing with increase
A= P(1+r)^t
A=200(1+0.07)^36
A= 200(1.07)^36
A= 200*11.423
A=$2284.6
The value of the card is $2284.6
Ответ:
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