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Sagot :
The model that best fits the given situation is exponential
what is an Exponential Function?
Exponential function, in mathematics a relationship of the form y = [tex]a^{x}[/tex], where the independent variable x extends over the entire real number line as an exponent of a positive number a. The most important exponential function is y = [tex]e^{x}[/tex].
Here,
The value of a classic car = $50,000
It is increasing in value by 5% per year.
So, here we have a = 50,000 and x = 5%
The function is increasing.
b = 1+5%
b = 1+0.05 = 1.05
Hence, the function that describes this situation is given by:
[tex]f(x)=50000(1.05)^{x}[/tex]
To learn more about Exponential Function from the given link
https://brainly.com/question/10750625
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