Question

A baseball card is originally worth 3$. It increases by 7% every year while the player is still active. After the player retires it increases 10% every year. If a player remains active for 7 years, how much is the baseball card worth after 20 years?

Answer 1

Answer:

$\ 16.64$

Step-by-step explanation:

we know that

The exponential function while the player is still active is equal to

$y=3(1.07)^{x}$

where

y ----> is the value of the baseball card

x ----> the time in years

Find the value of y for x=7 years (7 years still active)

$y=3(1.07)^{7}=\ 4.82$

After 20 years

x=20-7=13 years (13 years retired player)

The initial value is $\ 4.82$

The new equation is equal to

$y=\ 4.82(1.1)^{x}$

substitute

x=13 years

$y=\ 4.82(1.1)^{13}=\ 16.64$