The value of a rare painting has increased each year since it was found at a garage sale. The value of the painting is modeled by the function f (x) = 799 (1.03) x. What does the 799 represent? What will the painting be worth after 5 years? Round your answer to the nearest dollar.

Question

Mathematics

Mr. Clean

11 October, 18:46

The value of a rare painting has increased each year since it was found at a garage sale. The value of the painting is modeled by the function f (x) = 799 (1.03) x. What does the 799 represent? What will the painting be worth after 5 years? Round your answer to the nearest dollar.

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Answers (1)

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Beatrice Soto · Answer 1

A=P (r+1) ^t

a=future amount

p=present amount

r=rate

t=time

therefor 799 is present amount

after 5 years, x=t=5

f (5) = 799 (1.03) ^5

f (5) = 926.2599

round

$926

799 is original cost/price

after 5 years, it is worth $926