Question

A baseball card bought for $50 increases 3% in value each year.
Write an equation to represent the scenario.
2
f(x)=

Answer 1

$\qquad \textit{Amount for Exponential Growth}\\\\A=P(1 + r)^t\qquad\begin{cases}A=\textit{accumulated amount}\\P=\textit{initial amount}\dotfill &50\\r=rate\to 3\%\to \frac{3}{100}\dotfill &0.03\\t=years\end{cases}\\\\\\A=50(1 + 0.03)^{t}\implies A=50(1.03)^t~\hfill f(x)=50(1.03)^x$