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A collector’s item is purchased for $150 and its value increases by 3% each year. Which graph can be used to determine approximately how many years it will take for the value to double?
Draw a graph to show your work.

Answer :

we are given

A collector’s item is purchased for $150

so,

[tex]P=150[/tex]

its value increases by 3% each year

so,

[tex] r=0.03 [/tex]

t is time in years

Let's assume cost of item after t years is C(t)

so, we can use formula

[tex]C(t)=P(1+r)^{t}[/tex]

now, we can plug values

[tex]C(t)=150(1+0.03)^{t}[/tex]

[tex]C(t)=150(1.03)^{t}[/tex]

so, equation is

[tex]C(t)=150(1.03)^{t}[/tex]

After doubling

C(t)=2*150=300

so, we can set C(t)=300

and then we can solve for t

[tex]300=150(1.03)^{t}[/tex]

we get

[tex]t=23.44977 [/tex]

so, doubling time is 23.44977 years.........Answer

Graph:

we can draw graph of

[tex]C(t)=150(1.03)^{t}[/tex]


${teks-lihat-gambar} rejkjavik

Answer:

ITS B!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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