Question

Omar buys an antique cup for $100. Each year, the cup's value increases by 3.2%.
Write an equation using the keypad that can be used to find the value, b, in dollars, of the antique cup after t years.

Answer 1

Answer:

$b=100\cdot 1.032^t$

Step-by-step explanation:

The value b, in dollars, of the antique cup after t years can be modelled using the exponentia growth function

$b=I\cdot (1+r)^t,$

where

I = inittial cost of the antique cup,

r = rate of increase (given as decimal)

In your case,

I = $100

r = 0.032 (3.2% written as decimal),

so the function is

$b=100\cdot (1+0.032)^t\\ \\b=100\cdot 1.032^t$