Math Problem Statement
V=25000e^0.14t
Solution
The problem provides the value of a painting as a function of time (in years) given by:
Let's solve each part step by step.
(a) Find the value of the painting when the woman bought it.
When the woman bought the painting, . Substitute into the equation:
So, the value of the painting when the woman bought it is $25,000.
(b) Find the value of the painting after 9 years.
Now, substitute into the equation:
Let's calculate the numerical value.
So, the value of the painting after 9 years is approximately $88,100.
(c) Find the difference in the value of the painting after 10 years compared to after 9 years.
First, calculate the value of the painting after 10 years:
Let's calculate this:
Now, find the difference between the value after 10 years and 9 years:
So, the difference in the value is approximately $13,275.
Would you like any more details or explanations on these calculations? Here are some related questions you might find useful:
- What would be the value of the painting after 5 years?
- How long would it take for the painting's value to double?
- What is the percentage increase in the painting's value from year 9 to year 10?
- If the initial value of the painting was $30,000, how would that affect the value after 9 years?
- How does the rate affect the growth of the painting's value?
Tip: When dealing with exponential growth, the rate of growth significantly impacts the final value over time, especially in longer periods.
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Math Problem Analysis
Mathematical Concepts
Exponential functions
Compound interest
Formulas
Exponential growth formula V(t) = V0 * e^(rt)
Theorems
-
Suitable Grade Level
High school
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