Art masterpieces. In 2004, a collector paid $104,168,000 for Pablo Picassos Garcon la
Chapter 3, Problem 21(choose chapter or problem)
Art masterpieces. In 2004, a collector paid $104,168,000 for Pablo Picassos Garcon la Pipe. The same painting sold for $30,000 in 1950. (Source: BBC News, 5/6/04.) a) Find the exponential growth rate k, to three decimal places, and determine the exponential growth function V, for which V(t) is the paintings value, in dollars, t years after 1950. b) Predict the value of the painting in 2015. c) What is the doubling time for the value of the painting? d) How long after 1950 will the value of the painting be $1 billion?
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