The equation y=10 (1.0605) ^x represents the winning prize money, in thousands, for first place in the Indianapolis 500 auto race. Let x represent the number of years. Let x=0 for the year of the race in 1911. Find the winning prize money in 1961? (Hint: Let x = 50 for 1961)

Question

Mathematics

Julius Arroyo

13 March, 07:05

The equation y=10 (1.0605) ^x represents the winning prize money, in thousands, for first place in the Indianapolis 500 auto race. Let x represent the number of years. Let x=0 for the year of the race in 1911. Find the winning prize money in 1961? (Hint: Let x = 50 for 1961)

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Slade Castaneda · Answer 1

Using the value of x = 50 and putting it into the equation:

y = 10 x (1.0605) ⁵⁰

y = 188.6

The winning prize money in 1961 is 188.6 thousand dollars.