Question

Suppose you bought an antique desk for $750. Each year the value of the desk increases by 6%. Write an exponential function that models the value, V(t), after t years. V (t) = 750(1.06) OV (t) = 750(1.6) CV (t) = 750(0.94)* OV (t) = 750(0.6)*​

Answer 1

So, after 5 years, the desk would be worth approximately $1,003.65.

Explanation:

The correct exponential function that models the value, V(t), after t years is:

V(t) = 750(1.06)^t

where t is the number of years since the purchase.

This formula is based on the fact that the value of the desk increases by 6% each year, so we multiply the initial value ($750) by (1 + 0.06) raised to the power of the number of years (t).

For example, after 5 years, the value of the desk would be:

V(5) = 750(1.06)^5

V(5) = 750(1.3382)

V(5) = 1003.65

So, after 5 years, the desk would be worth approximately $1,003.65.