Question

The value of a painting recently sold at an auction is expected to increase in value over time. The function v(t)=12,000(1.15)^t represents the value of the painting, v(t), at time t, where t is the measure in years since the painting was sold at an auction.
Which of the following statements provide a correct interpretation of the function representing the value of the painting? SELECT ALL THAT APPLY.

A. The painting was sold at the auction 1.15 years ago.
B. The painting value was 1.15 at the time it was sold at the auction.
C. Each year the painting increases its value by 15 percent.
D. The painting was sold at the auction 12,000 years ago.
E. The painting's value was 12,000 at the time it was sold at the auction.
F. Each year the painting increases its value by 12,000 percent

Answer 1

This is an exponential equation with a starting value of 12000 and an increase of 15% each years.

The following are true:

C. Each year, it increases by 15%

E. The painting's value was 12,000 at the time is was sold.