Question

A collectors item is purchased for $150 and it’s value increases by 3% each year. Which graph can be used to determine approximately how many years it will take for the value to double

Answer 1

Answer:

we are given A collector’s item is purchased for $150so, its value increases by 3% each yearso, t is time in yearsLet's assume cost of item after t years is C(t)so, we can use formula now, we can plug values so, equation is After doubling C(t)=2*150=300so, we can set C(t)=300and then we can solve for twe get so, doubling time is 23.44977 years