Question

When Bethany's mother had a family heirloom appraised a few years ago, it was worth $560. Since then, it has been increasing in value by the same percentage each year. One year after Bethany's mother first had the heirloom appraised, it was worth $644. Bethany wrote the function h(t) = 560(N t) to represent the value in dollars of the heirloom t years after her mother first had it appraised. What number does N represent in the function Bethany wrote? Write the decimal form of the number represented by N in Bethany's function.

Answer 1

N in Bethany's function represents the percentage increase in the heirloom's value each year. The heirloom increased by the same percentage each year, so N is a constant. To find the decimal form of the number represented by N, divide the value of the heirloom one year after it was first appraised ($644) by the original value ($560). This gives you a decimal form of N, which is 1.142857. Therefore, the decimal form of the number represented by N in Bethany's function is 1.142857.