Question

Will give brainliest!!! It's is an application problem for exponential functions. I am getting a bit confused with the year. I think the year is supposed to be 42 but I don't know so please help me and thank you ​

Answer 1

Answer:

Step-by-step explanation:

The growth factor is 1.06.

The year is 2020 - 1978 = 42.

This is exponential growth as the growth factor is > 1.

The equation is V = 40000(1.06)^42

V works out to $462,281