3 Perry invested in property that cost him $1500. Five years later it was worth $3000, and 10 years from his original purchase, it was worth

Question

3 Perry invested in property that cost him $1500. Five years later it was worth $3000, and 10 years from his original purchase, it was worth $6000. Assuming the growth rate remains the same, which type of function could he create to find the value of his investment 30 years from his original purchase

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Gerda 3 years 2021-08-09T14:10:17+00:00 1 Answers 52 views 0

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  1. diemkieu
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    2021-08-09T14:11:53+00:00
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    Answer:

    y = 1500(2 {}^{x})

    Step-by-step explanation:

    So 3000/1500 is 2. His investment double in 5 years. 6000/3000 is 2. So it doubled again in 5 years.

    30 years/5 years is 6 doubling periods. So this has to be an exponential equation because the values are constantly being multiplied by 2.

    To format an exponential equstion, we use this:

    y = a(b {}^{x})

    a represents the initial value (1500), and b represents the rate of change. So your equation would be

    y = 1500(2 {}^{x})

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