Question

PLEASE PLEASE PLEASE HELP

The price of gold has increased by 35% per year from 2000. In the year 2000, Harry bought a gold ring for $590. Which of the following functions f(x) can be used to represent the price of the ring x years after 2000?
f(x) = 590(1.35)x
f(x) = 590(0.65)x
f(x) = 35(0.41)x
f(x) = 35(1.59)x

Answer 1

f(x) = 590(1.35)x

Answer 2

Answer: f(x) = 590(1.35)x

Explanation:

Hi, to answer this question we have to analyze the information given:

Price of the ring = $590

Price increase= 35% (0.35 in decimals)

Years =x

So, to obtain the price of the ring after x years we have to multiply the price of the ring by the price increase. The price increase is 35%, we have to multiply the price by 1.35 to obtain the increased price after 1 year. Finally we multiply the result by the years (x) .

Mathematically speaking:

f(x) = 590(1.35)x