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2 votes
Samuel took an antique clock that his grandfather had purchased, to be appraised. The appraiser evaluated the current price of the clock to be $400 and stated that the value will continue to increase at 2% per year.

Which of the following graphs shows the value of the antique clock, y, in dollars, after x years?

Samuel took an antique clock that his grandfather had purchased, to be appraised. The-example-1
User DBaker
by
7.4k points

2 Answers

4 votes
I'm pretty sure to find the number to multiply 400 by, it is 1.02^x, x being the number of years. So, do that with 20, then multiple the number by 400, so it should be the 1st one.
User Dishin H Goyani
by
8.2k points
6 votes

Answer:

The correct option is 1.

Explanation:

The general exponential function is


y=a(1+r)^x

Where, a is the initial value, r is rate of change and x is number of years.

It is given that the appraiser evaluated the current price of the clock to be $400 and stated that the value will continue to increase at 2% per year.

It means


a=400


r=2\%=0.02

The price of the clock after x years is


y=400(1+0.02)^x


y=400(1.02)^x

At x=0,


y=400(1.02)^(0)=1

At x=20,


y=400(1.02)^((20))=594.38

At x=40,


y=400(1.02)^((40))=883.22

It means the graph of the function passes through points (0,400), (20,594.38) and (40,883.22).

Therefore the correct option is 1.

User Dudeonyx
by
8.2k points
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