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jaylelile
 one year ago
The value of a collector’s item is expected to increase exponentially each year. The item is purchased for $500. After 2 years, the item is worth $551.25. Which equation represents y, the value of the item after x years?
y = 500(0.05)x
y = 500(1.05)x
y = 500(0.1025)x
y = 500(1.1025)x
jaylelile
 one year ago
The value of a collector’s item is expected to increase exponentially each year. The item is purchased for $500. After 2 years, the item is worth $551.25. Which equation represents y, the value of the item after x years? y = 500(0.05)x y = 500(1.05)x y = 500(0.1025)x y = 500(1.1025)x

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0I am assuming the trailing x's are exponents.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0So you know that y must be of the form P*a^x for some a and P = $500.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Knowing that after 2 years, the item costs $551.25. This means that \[$551.25 = $500 \times a^2\]

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Can you solve for \[a\] now?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0\[a = \sqrt{\frac{ 551.25 }{ 500 }} = 1.05\]

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Your final expression for y is: \[y = $500 \times (1.05)^x\]
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