Take the 2-minute tour ×
Mathematics Stack Exchange is a question and answer site for people studying math at any level and professionals in related fields. It's 100% free, no registration required.

I would just like to confirm that I'm doing this correctly. If not, any help would be appreciated. Thanks!

The problem:

A painting sold for $$274 in 1977 and was sold again in 1987 for $470. Assume that the growth in the value V of the collector’s item was exponential.

Find the value k of the exponential growth rate. Assume $V_0$ = 274

My attempt at solving it:

$470=274e^{k10}$

$k = 0.054$ (rounded to the nearest thousandth)

share|improve this question
    
The answer is correct. –  André Nicolas Mar 7 at 21:56
add comment

1 Answer 1

Your answer is correct. The exact value would be

$$k = \frac{1}{10}\ln{\left(\frac{470}{274}\right)}$$

which approximates to: $k \approx 0.054$ as you said. Well done.

share|improve this answer
add comment

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.