document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=119095>Question 119095</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The equation V=12(1.25)^t describes the value (V) of a hockey card t years after purchase.<BR>\n" );
document.write( "a) What was the initial value of the hockey card?<BR>\n" );
document.write( "b) What was tha rate of appreciation expressed as a percentage?<BR>\n" );
document.write( "c) What will be the cards value 5 years after it was purchased?<BR>\n" );
document.write( "d) Use the graphing calculator to determine the number of years it would take for the card to be worth $71.53.<BR>\n" );
document.write( "For (a) I got $12 , for (b) I got 25% but I am not sure. Can someone please explain this to me. Thanks:) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #87262 by </B><A HREF=/tutors/aboutme.mpl?userid=Fombitz><B>Fombitz(32388)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Fombitz><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Fombitz><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=87262\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=V=12%281.25%29%5Et ALIGN=MIDDLE  ALT=\"V=12%281.25%29%5Et\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "a.) Yes, at time t=0 years, V=12 because (1.25)^t=(1.25)^0=1<BR>\n" );
document.write( "b.) You can look at successive years to find the rate.<BR>\n" );
document.write( "At year 1, V=12(1.25)=15<BR>\n" );
document.write( "Using time t=0 and time t=1, the rate of appreciation equals<BR>\n" );
document.write( "(new value minus old value) divided by old value<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=R=%28V%5B1%5D-V%5B0%5D%29%2FV%5B0%5D=%2815-12%29%2F12=0.25 ALIGN=MIDDLE  ALT=\"R=%28V%5B1%5D-V%5B0%5D%29%2FV%5B0%5D=%2815-12%29%2F12=0.25\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "As a percentage, 0.25 equals 25%<BR>\n" );
document.write( "c.)V[5]=12(1.25)^5=12(3.052)=$36.62.<BR>\n" );
document.write( "d.)\r<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=drawing%28+300%2C+300%2C+-1%2C+9%2C+-10%2C+90%2Cgrid%28+1+%29%2Cgreen%28line%280%2C71.53%2C8%2C71.53%29%29%2Cgreen%28line%288%2C71.53%2C8%2C0%29%29%2Ccircle%288%2C71.53%2C.2%29%2Cgraph%28+300%2C+300%2C+-1%2C+9%2C+-10%2C+90%2C+12%281.25%29%5Ex%29%29 ALIGN=MIDDLE   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Looks like about 8 years.<BR>\n" );
document.write( "V[8]=12(1.25)^8=$71.53. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );