A baseball card sold for $247 in 1979 and was sold again in 1988 for $467. Assume that the growth in the value V of the collector's item was exponential

Answer 1

There is no stated question so I assume they want you to find the equation and give the per cent growth.

y = ab^x

Taking 1979 as t = 0 then for 1988 t = 9

247= ab^0

467 = ab^9

From the first equation we get a = 247 because any number to the power of zero equals one.

467 = 247b^9

b^9 = 467/247 = 1.8907

b = 1.8907^(1/9)

b = 1.0733

y = 247x1.0733^x

The growth rate is about 7.3% per year.