Question

The function v(t) 1350(1.017)t represents the value v(t), in dollars, of a comic book t years after its purchase. the yearly rate of appreciation of the comic book is

Answer 1

Answer:

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%

Step-by-step explanation:

we have

$v(t)=1,350(1.017)^{x}$

This is a exponential function of the form

$f(x)=a(b)^{x}$

where

a is the initial value

b is the base

In this problem

a=$1,350

b=1.017

Remember that

b=1+r

so

1+r=1.017

r=1.017-1=0.017

therefore

The yearly rate of appreciation of the comic book is r=0.017 or r=1.7%