Answer:
a. 10%
b. 37.57
c. What the coin was worth 3 years prior to 2000
Step-by-step explanation:
a. The equation for exponential growth is v(t) = P(1+r)^t. Where v(t) is the total amount, P is the principal, r is the rate of growth, and t is time in years. For part a, you need to find r, the rate. In this situation, r is equal to .1, which is equal to 10%.
b. To find part b simply solve the equation for when t equals -3. So the equation should look like [tex]v(t)=50(1.1)^{-3}[/tex]. When this is plugged into a calculator or solved by hand the total equals $37.57.
c. In this, t equals the time in years since 2000. Since -3 is negative, this must take place 3 years before 2000. Therefore, v(-3) must represent the value of the coin in 1997.
