The value of the painting in 5 years is $4,320.36
Expoential functions
The standard exponential function is expressed as:
Given the following
- P = $3800
- r = 2.6% = 0.026
- t = 5 years
Substitute into the formula
A = 3800(1+0.026)^5
A = 3800(1.026)^5
A = 4,320.36
Hence the value of the painting in 5 years is $4,320.36
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