Question

The value of a painting can be predicted by the expression 120(1.08)t, where t is the number of years since 2014.

What does the value 120 represent?

1. the predicted value of the painting in 2014

2. the predicted change in the value of the painting each year

3. the predicted percent change in the value of the painting each year

4. the number of years for which the value of the painting is predicted to continue changing

Answer 1

1. the predicted value of the painting in 2014

Explanation:

In the expression, 120 represents the initial value of the painting.

In expression
`120(1.08)^t`, t is the number of years since 2014, and 120 represents the predicted value of the painting in 2014.

Exponential growth occurs if a quantity increases by the same factor over equal intervals of time and if a quantity increases by the same factor over equal intervals of time then it is said to be exponential decay.