A toy tractor sold for $292 in 1980 and was sold again in 1987 for $415. Assume that the growth in the value V of the collector's item was exponential. a) Find the value k of the exponential growth rate. Assume V = 292. k= 0.050 (Round to the nearest thousandth.) b) Find the exponential growth function in terms of t, where t is the number of years since 1980. V(t)=292-0050 c) Estimate the value of the toy tractor in 2010. $1309 (Round to the nearest dollar.) d) What is the doubling time for the value of the toy tractor to the nearest tenth of a year? years Round 4

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.