Where is YoungTrappa101?
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Answer: The annual growth rate in the value of the Wheaties box = 12%
The box worth $32.30 currently in the year 2021.
Step-by-step explanation:
Exponential growth function : , where a = initial value, r= rate of growth , x= time (i)
Given: , where V(t) = value of a commemorative box of Wheaties t years after its purchase in 2000.
It can written as
Comparing above function with (i), we get r=0.12
The annual growth rate in the value of the Wheaties box = 12%
Now , For 2021 , t=2021-2000=21
Hence, the box worth $32.30 currently in the year 2021.