Question

Martin bought a painting for $5000. It is expected to appreciate at a continuous rate of 4%. Write an exponential equation to model this situation

Answer 1

Answer:

y=5000(1.04)^t

Step-by-step explanation:

Given data

Cost of painting=$5000

Rate of increase=4%

the exponential increase expression is

y=P(1+r)^t

      Where y= the total amount after growth

                  P= the initial cost of the painting

                  r= the rate of increase

                  t= the time interval

y=5000(1+0.04)^t

y=5000(1.04)^t