A painting was purchased for $50 000.00. The value of the painting increases by 4% each year. A function that models the growth of the painting is 50000(1. 04)" where y is the value of the painting, in dollars, and x is the number of years since the painting was purchased. Algebraically determine how long, to the nearest year, that it will take for the painting to be worth at least $100 500.00.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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A painting was purchased for $50 000.00. The value of the painting increases by 4%
each year. A function that models the growth of the painting is
y =
50000(1. 04)ª
where y is the value of the painting, in dollars, and x is the number of years since the
painting was purchased.
Algebraically determine how long, to the nearest year, that it will take for the
painting to be worth at least $100 500.00.
Transcribed Image Text:A painting was purchased for $50 000.00. The value of the painting increases by 4% each year. A function that models the growth of the painting is y = 50000(1. 04)ª where y is the value of the painting, in dollars, and x is the number of years since the painting was purchased. Algebraically determine how long, to the nearest year, that it will take for the painting to be worth at least $100 500.00.
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