Part A
Select the equation which represents the given scenario.
Charlotte purchased a rare coin from a dealer for $200. The value of the coin increases 7% each year.
t= number of years
y= value of coin
(1 point)
Responses
200+0.7t=y
200 plus 0 point 7 t is equal to y
200(1.07)t=y
200 times 1 point 0 7 to the t th power is equal to y
200(0.07)1=y
200 times 0 point 0 7 to the 1th power is equal to y
1.07t2+200t=y
1 answer
The correct equation that represents the scenario where a coin purchased for $200 increases in value by 7% each year is:
200(1.07)^t = y
This can be interpreted as the initial value of the coin ($200) multiplied by the growth factor (1 + 0.07 = 1.07) raised to the power of the number of years (t).
So the response that corresponds to this equation is:
200(1.07)^t = y (200 times 1.07 to the t-th power is equal to y)
