A particular yacht was purchased for $880,000 in the year 2020. The value has been increasing at the continuous rate of 4% per year. Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year 2020. y = 880000e0.04t dollars Find the value of the yacht in the year 2026. Submit Question

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.3: Linear Functions And Slope
Problem 106E
icon
Related questions
Question
A particular yacht was purchased for $880,000 in the year 2020. The value has been increasing at the
continuous rate of 4% per year.
Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year
2020.
y = 880000e0.04t
dollars
Find the value of the yacht in the year 2026.
Submit Question
AG OOGOO
DEC
etv
6.
Q Search DuckDuckGO
&
8.
Transcribed Image Text:A particular yacht was purchased for $880,000 in the year 2020. The value has been increasing at the continuous rate of 4% per year. Write an equation for y, the value at time t, that represents the situation where t = 0 represents the year 2020. y = 880000e0.04t dollars Find the value of the yacht in the year 2026. Submit Question AG OOGOO DEC etv 6. Q Search DuckDuckGO & 8.
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
PREALGEBRA
PREALGEBRA
Algebra
ISBN:
9781938168994
Author:
OpenStax
Publisher:
OpenStax