Question 135483: A baseball card valued at $100 appreciates 8% every 3 years. If this appreciation rate continues ,write the function that represents the value of the card , V, after t years.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A baseball card valued at $100 appreciates 8% every 3 years. If this appreciation rate continues ,write the function that represents the value of the card , V, after t years.
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The way to do these formula-generating problems is to plot a few periods
of development based on t = 1,2,3..etc and then slip in "x".
0-----value 100
3-----value 100(0.08)
2*3---value 100(0.08)^2
3*3---value 100(0.08)^3
Hmmmm?
x*3---value (100(0.08)^x
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You want the x*3 to be t
so x = t/3
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EQUATION: V = 100(0.08)^(t/3)
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Cheers,
Stan H.
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