You buy a commemorative coin for $110. Each year, t, the value V of the coin increases by 4%

Part a: Write a function that can be used to find the coin's value after t years.

Part b: If the coin's value continues to grow 4% per year, what will the approximate value be in 8 years? Round to two decimal places.

Question

Armando Contreras

Mathematics

23 May, 10:10

You buy a commemorative coin for $110. Each year, t, the value V of the coin increases by 4%

Part a: Write a function that can be used to find the coin's value after t years.

Part b: If the coin's value continues to grow 4% per year, what will the approximate value be in 8 years? Round to two decimal places.

+3

Answers (1)

Know the Answer?

Colt Ortega · Answer 1

A. f (x) = 100*1.04^t

Exponential functions follow the form of y=ab^x, where a is the principal amount, b is the rate of growth or decay (1+0.04), and x is the time.

b. f (8) = 100*1.04^8

100*1.368569 ...

136.856

Final answer: $136.86