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What is the doubling time for the value of the toy tractor to the nearest tenth of a year?

What is the doubling time for the value of the toy tractor to the nearest tenth of a year?

Advanced Engineering Mathematics
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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A toy tractor sold for $208 in 1980 and was sold again in 1989 for $479. 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, = 208. %3D k = 0.093 (Round to the nearest thousandth.) b) Find the exponential growth function in terms of t, where t is the number of years since 1980. 0.093t V(t) = 208 e c) Estimate the value of the toy tractor in 2012. $ 4079 (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 to the nearest tenth.)
Transcribed Image Text:A toy tractor sold for $208 in 1980 and was sold again in 1989 for $479. 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, = 208. %3D k = 0.093 (Round to the nearest thousandth.) b) Find the exponential growth function in terms of t, where t is the number of years since 1980. 0.093t V(t) = 208 e c) Estimate the value of the toy tractor in 2012. $ 4079 (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 to the nearest tenth.)
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