Respuesta :
It is exponential, axb^x. 50000x1.05 to the power of the number of years x
Answer:
The model that best fits the given situation is:
A. exponential
Step-by-step explanation:
Exponential function--
A function which is given by the expression:
[tex]f(x)=ab^x[/tex]
is said to be a exponential function where a is the initial value and b is the change in the function.
such that the function is decreasing by a rate r% then,
b=1-r and the function is a exponential decay function.
and if the function is increasing by a rate r% then,
b=1+r and the function is a exponential growth function.
Here,
The value of a classic car is presently $50,000 and is increasing in value by 5% per year.
i.e. a=50,000 and r=5%
and the function is increasing.
i.e.
b=1+5%
i.e.
b=1+0.05=1.05
Hence, the function that describes this situation is given by:
[tex]f(x)=50000(1.05)^x[/tex]
