Question

Question 3

(04.05)

The price of gold has increased by 35% per year from 2000. In the year 2000, Harry bought a gold ring for $590. Which of the following functions f(x) can be used to represent the price of the ring x years after 2000?
f(x) = 590(1.35)x
f(x) = 590(0.65)x
f(x) = 35(0.41)x
f(x) = 35(1.59)x

Answer 1

The correct answer is f(x) = 590(1.35)

This is based on the face that the increase is 35% which as a multiplier would be 1.35.