Marilyn collects old dolls. She purchases a doll for $450. Research shows the doll's value with increase by 2.5% each year.

Assuming the doll's rate of appreciation remains the same, what will be value of the doll in 20 years, to the nearest penny?

Step-by-step explanation:

we know that

The equation of a exponential growth function is given by

where

y is the value of the doll

x is the number of years

a is the initial value

r is the rate of change

we have

substitute

What will be the value of the doll in 20 years?

For x=20 years

substitute in the equation

step-by-step explanation:

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