The table below shows the estimated value C, in dollars, of an 1877 Indian Head Cent (Philadelphia mint mark) in very fine condition t years after 1950.t = time inyears since 1950C = valuein dollars0253040045625541750602000C = 29.490 × 1.076(a) According to your exponential model, by what percentage does the value of the 1877 cent increase from year to year? (Use the model found in part Round your answer to one decimal place.)_______ %

Consider the given exponential model Ct=29.490×1.076t. The above equation gives the growth factor equal to 1.076. The growth factor can also be written as 1+0.076 or 1+7.6100. Then, the percentage growth rate is 7.6%. Thus, according to the exponential model, the value of the 1877 cent has increased per year by 7.6%.

Answered: The table below shows the estimated…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The table below shows the estimated value C, in dollars, of an 1877 Indian Head Cent (Philadelphia mint mark) in very fine condition t years after 1950.

t = time in years since 1950	C = value in dollars
0	25
30	400
45	625
54	1750
60	2000

C = 29.490 × 1.076

(a) According to your exponential model, by what percentage does the value of the 1877 cent increase from year to year? (Use the model found in part Round your answer to one decimal place.)

_______ %

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