You purchased a baseball card for $8 when you were 10 years old. The value of the card increased by 5% each year. Write an exponential model that gives the value y (in dollars) of the card t years after you purchased it.

Question

Valentin Scott

Mathematics

2 July, 01:37

You purchased a baseball card for $8 when you were 10 years old. The value of the card increased by 5% each year. Write an exponential model that gives the value y (in dollars) of the card t years after you purchased it.

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Solomon Avila · Answer 1

This is exponential growth which can always be expressed as:

f=ir^t, f=final value, i=initial value, r=rate, t=time, in this case:

f=8 ((100+5) / 100) ^t

f=8 (1.05^t)