21. Art masterpieces. In 2004, a collector paid S104,168,000 for Pablo Picasso's "Garcon à la Pipe." The same painting sold for $30,000 in 1950. (Source: BBC News, 5/6/04.) 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. b) Predict the value of the painting in 2015. e) What is the doubling time for the value of the painting? d) How long after 1930 will the value of the painting be $1 billion? Boywitha Ppe (1905), Pablo Picasso O 2011 Picasso Estate/ARS

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 14CR
Question
21. Art masterpieces. In 2004, a collector paid S104,168,000
for Pablo Picasso's "Garcon à la Pipe." The same painting
sold for $30,000 in 1950. (Source: BBC News, 5/6/04.)
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.
b) Predict the value of the painting in 2015.
e) What is the doubling time for the value of the
painting?
d) How long after 1930 will the value of the painting be
$1 billion?
Boywitha Ppe (1905), Pablo Picasso
O 2011 Picasso Estate/ARS
Transcribed Image Text:21. Art masterpieces. In 2004, a collector paid S104,168,000 for Pablo Picasso's "Garcon à la Pipe." The same painting sold for $30,000 in 1950. (Source: BBC News, 5/6/04.) 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. b) Predict the value of the painting in 2015. e) What is the doubling time for the value of the painting? d) How long after 1930 will the value of the painting be $1 billion? Boywitha Ppe (1905), Pablo Picasso O 2011 Picasso Estate/ARS
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