Question

The value of a painting bought for $3,800 increases 2.6% each year. Use a graph to predict the value of the painting in 5 years.

Answer 1

The value of the painting in 5 years is $4,320.36

Expoential functions

The standard exponential function is expressed as:

• A = P(1+r)^t

Given the following

• P = $3800
• r = 2.6% = 0.026
• t = 5 years

Substitute into the formula

A = 3800(1+0.026)^5
A = 3800(1.026)^5
A = 4,320.36

Hence the value of the painting in 5 years is $4,320.36

Learn more on exponential function here: brainly.com/question/12940982