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The value of an antique car is modeled by the function

Sagot :

[tex]V(t)=150\cdot(1.004)^t[/tex]

when we are modeling increments using functions the standard form should be

[tex]V(t)=A\cdot(1+r)^t[/tex]

In which A represents the initial value and r represents the rate it is increasing per year.

In this case to find what is the increment per year we equal what is inside the parentheses

[tex]\begin{gathered} 1+r=1.004 \\ r=1-1.004 \\ r=0.004 \end{gathered}[/tex]

now this decimal can be represented as a percentage if we multiply by 100

[tex]\begin{gathered} \text{\%r}=0.004\cdot100 \\ \text{\%r=0.4\%} \end{gathered}[/tex]

It is increasing by 0.4% per year.

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