Robin purchased a piece of land in the year 2000 for $15,000. The value of the land increases at the rate of 13.17% each year. Identify the function that represents the value of the land. Does the function represent growth, or decay?

A) V (t) = 15000 (0.8683) t; growth

B) V (t) = 15000 (1.1317) t; decay

C) V (t) = 15000 (0.08683) t; decay

D) V (t) = 15000 (1.1317) t; growth

Question

Mathematics

Peyton Calderon

20 June, 04:11

Robin purchased a piece of land in the year 2000 for $15,000. The value of the land increases at the rate of 13.17% each year. Identify the function that represents the value of the land. Does the function represent growth, or decay?

A) V (t) = 15000 (0.8683) t; growth

B) V (t) = 15000 (1.1317) t; decay

C) V (t) = 15000 (0.08683) t; decay

D) V (t) = 15000 (1.1317) t; growth

+3

Answers (1)

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Dean Oneal · Answer 1

The value of the land increases by 13.17% each year So it's growth function which is V (t) = 15000 (1+r) ^t Where r is the growth rate which is in decimal 13.17/100=0.1317 So it's D) V (t) = 15000 (1.1317) t; growth