In the equation \( V(t) = 5,000(1.03)^t \):
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The number \( 5,000 \) represents the initial value of the motorcycle. This is the value of the motorcycle at time \( t = 0 \) (i.e., when it is first purchased).
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The statement \( V(t) = 9,000 \) means that the value of the motorcycle is $9,000 after a certain period of time. In other words, this indicates that at some time \( t \), the motorcycle has appreciated in value to $9,000.
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A value of \( t = 3 \) means 3 years have passed since the purchase of the motorcycle. In this context, it refers to the time duration for which the motorcycle's value has been changing, and you can use this to calculate the value of the motorcycle at that point in time using the provided equation.