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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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  1. 11 October, 19:49
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    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
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