Question

The function v(t) = 8 • (2.5)t – 1 gives the value of a rare coin, in dollars, in year t.

What does the value 8 particularly represent in this situation?
The coin was worth $8 in Year 1.
The coin increases in value by $8 each year.
In Year 1, a total of 8 coins were in circulation.
Each year, the coin is worth 8 times what it was worth the previous year.