A doll sold for ?$215 in 1975 and was sold again in 1989 for $488. Assume...

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A doll sold for ?$215 in 1975 and was sold again in 1989 for$488. Assume that the growth in the value V of the? collector'sitem was exponential.
?a) Find the value k of the exponential growth rate. AssumeVo=215.
?(Round to the nearest? thousandth.)
?b) Find the exponential growth function in terms of? t, where tis the number of years since 1975
?V(t)=
?c) Estimate the value of the doll in 2015.
?(Round to the nearest? dollar.)
?d) What is the doubling time for the value of the doll to thenearest tenth of a? year?
?(Round to the nearest? tenth.)
?e) Find the amount of time after which the value of the dollwill be ?$3037
?(Round to the nearest? tenth.)

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4.2 Ratings (917 Votes)

a Let the exponential growth function in terms of t where t is the number of years since 1975 be Vt V0ekt where V0 is the initial value of the doll in 1975 Vt is the value of the doll t years after 1975 and k is the exponential growth rate Here V0 215 t 14 and V14 488 Hence 488 See Answer

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