Question

I need help with this please! I want someone to go through the steps with me, not tell me the answer. Thanks~! ^_^

The price of bronze has increased by 10% per year from 2000. In the year 2000, Harry bought a bronze medal for $120. Which of the following functions f(x) can be used to represent the price of the medal x years after 2000?

Answer 1

A. f(x) = 120(0.9)x
B. f(x) = 10(120)x
C. f(x) = 120(1.1)x
D. f(x) = 10(1.1)x

Answer 2

Okay so:
Recall that
\[A=A _{0}(b)^t\]
A= amount
Ao= initial
b= growth factor (1+ percent of growth)
t= time in years

Answer 3

Any ideas @Yato_Gami ?

Answer 4

Um I'm not too sure. :(

Answer 5

So it looks like Harry bought a piece of bronze medal in 2000 for $120.

aka

Ao=$120

Since then... the price has started to increase by 10% each year after 2000

If b= growth factor (1+ percent of growth)
& 10% is the percent of growth
b=1.10

So:
What is the equation?

Answer 6

A = 120(1.1)t?

Answer 7

Yep :D looks good!

Answer 8

Oh ok! Is that it?