An antique painting initially worth 12,000 increases in value v according to the function v(x)=12000(1.03)^x dollars, where x is the number of years since 1990.

Question

In what yr will the painting reach value of 30,000?

A. 2031

B. 2321

C. 2021

D. 2022

Answer 1

Hi Joshua, replace the x with the number of years for A, 41, B, 330, C, 30, and D, 31.

 

v(41) = 12000 * (1.03)⁴¹ ≈ $40319

 

v(330), you can skip this one knowing what v(41) is.

 

v(30) ≈ 29127

 

v(31) ≈ 30000

 

Answer: D, the value of the painting will reach 30000 in the year 2022.

 

Questions?