Lamborghini 350 GT. The market value ofthe 19641965 Lamborghini 350 GT has hada recent
Chapter 5, Problem 14(choose chapter or problem)
Lamborghini 350 GT. The market value ofthe 19641965 Lamborghini 350 GT has hada recent upswing. The cars value increasedfrom $66,000 in 1999 to $220,000 in 2009 (Source: 19641965 Lamborghini 350 GT, byDavid LaChance, Hemmings Motor News, July,2010, p. 28). Assuming that the value V0 of the car hasgrown exponentially:a) Find the value of k, and determine the exponentialgrowth function, assuming V0 = 66,000and t is the number of years since 1999.b) Estimate the value of the car in 2011.c) What is the doubling time for the value ofthe car?d) After how long will the value of the car be$300,000, assuming there is no change in thegrowth rate?
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