In 2004, an art collector paid $155,328,000 for a particular painting. The same painting sold for $29,000 in 1950. Complete parts (a) through (d). a) Find the exponential growth rate k, to three decimal places, and determine the exponential growth function V, for which V(t) is the painting's value, in dollars, t years after 1950. V(t) = (Type an expression. Type integers or decimals for any numbers in the expression. Round to three decimal places as needed.) b) Predict the value of the painting in 2025. (Round to the nearest million as needed.) c) Estimate the rate of change of the painting's value in 2025. → $/ yr(s) (Round to the nearest million as needed.) Ar yr (s)/
In 2004, an art collector paid $155,328,000 for a particular painting. The same painting sold for $29,000 in 1950. Complete parts (a) through (d). a) Find the exponential growth rate k, to three decimal places, and determine the exponential growth function V, for which V(t) is the painting's value, in dollars, t years after 1950. V(t) = (Type an expression. Type integers or decimals for any numbers in the expression. Round to three decimal places as needed.) b) Predict the value of the painting in 2025. (Round to the nearest million as needed.) c) Estimate the rate of change of the painting's value in 2025. → $/ yr(s) (Round to the nearest million as needed.) Ar yr (s)/
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter6: Exponential Functions And Sequences
Section: Chapter Questions
Problem 8CA
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Transcribed Image Text:In 2004, an art collector paid $155,328,000 for a particular painting. The same painting sold for $29,000 in 1950.
Complete parts (a) through (d).
a) Find the exponential growth rate k, to three decimal places, and determine the exponential growth function V, for
which V(t) is the painting's value, in dollars, t years after 1950.
V(t) =
(Type an expression. Type integers or decimals for any numbers in the expression. Round to three decimal places
as needed.)
b) Predict the value of the painting in 2025.
(Round to the nearest million as needed.)
c) Estimate the rate of change of the painting's value in 2025.
• → $ / yr(s)
Ar
(Round to the nearest million as needed.)
d) How long after 1950 will the value of the painting be $3 billion?
yr (s)/$
year(s)
(Do not round until the final answer. Then round to the nearest year as needed.)
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