5. A baseball card sold for $241 in 1975 and was sold again in 1988 for $405. Assume that the growth in the value V of the col
lector's item was exponential.
1 answer:
The exponential growth rate of the baseball card given its price in 1975 and 1988 is 4.07%.
<h3>What is the exponential growth rate?</h3>The exponential growth rate is the rate of increase in the value of an asset with the passage of time.
Exponential equations have the form a
Growth rate = (future value / present value)^(1 / number of years)
(405 / 241)^(1/13) = 4.07%
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