Question

Your mom purchased an antique lamp for $245. The value

of the lamp increases by 3.25% each year. Write an exponential
model that gives the value y (in dollars) of the lamp t years after
she purchased it. How much is it worth after 20 years? (Round
to the nearest whole dollar)

Answer 1

y=245 * 1.035^t $487.50

Explanation:

y=245*1.035^20

y=245*1.9898

y=487.49827