Question

The function v(t) 1350(1.017)t represents the value v(t), in dollars, of a comic book t years after its purchase. the yearly rate of appreciation of the comic book is

Answer 1

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%

Explanation:

we have

This is a exponential function of the form where

a is the initial value

b is the base

In this problem

a=$1,350

b=1.017

Remember that

b=1+r

so

1+r=1.017

r=1.017-1=0.017

therefore

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%

Answer 2

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%

Explanation:

we have

`v(t)=1,350(1.017)^(x)`

This is a exponential function of the form

`f(x)=a(b)^(x)`

where

a is the initial value

b is the base

In this problem

a=$1,350

b=1.017

Remember that

b=1+r

so

1+r=1.017

r=1.017-1=0.017

therefore

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%