Question

The value of a rare painting has increased each year since it was found at a garage sale. The value of the painting is modeled by the function f(x) = 799(1.03)x. What does the 799 represent? What will the painting be worth after 5 years? Round your answer to the nearest dollar.

Answer 1

A=P(r+1)^t
a=future amount
p=present amount
r=rate
t=time

therefor 799 is present amount
after 5 years, x=t=5

f(5)=799(1.03)^5
f(5)=926.2599
round
$926


799 is original cost/price
after 5 years, it is worth $926

Answer 2

hope this helps-i did the test :)

ANSWER-