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what is the annual growth rate of the painting's value? Write the answer as a percentage rounded to the nearest tenth.

 

The function V=250(1.28)^d models the value of a rare painting, in thousands of dollars, d decades after it sold at an auction for $250,000.

 Mar 13, 2019
 #1
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V=250(1.28)^d 

 

Since one year  =  d / 10.........we have

 

V = 250 (1.28)^(d/10)  =    

 

250 [(1.28)^(1/10)]^d  

 

250  [≈ 1.025]^d

 

250 [ 1 + .025 ]^d

 

So....the annual growth rate is   .025  ≈   2.5%

 

 

cool cool cool

 Mar 13, 2019
 #2
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Thank you so much!!!!

Guest Mar 15, 2019

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