Mathematics · Exponential Functions
Immanuel purchased a certain rare coin on January 1. The function f(x) = 65(1.03) x , where 0 ≤ x ≤ 10, gives the predicted value, in dollars, of the rare coin x years after Immanuel purchased it. What is the best interpretation of the statement 'f(8) is approximately equal to 82' in this context?
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- 18 years after Immanuel purchased the rare coin, its predicted value is approximately 82 dollars.✓
- 2From the day Immanuel purchased the rare coin to 8 years after Immanuel purchased the coin, its predicted value increased by a total of approximately 82 dollars.
- 3When the rare coin's predicted value is approximately 82 dollars, it is 8 times the predicted value, in dollars, on January 1 of the previous year.
- 4When the rare coin's predicted value is approximately 82 dollars, it is 8% greater than the predicted value, in dollars, on January 1 of the previous year.
Correct answer
8 years after Immanuel purchased the rare coin, its predicted value is approximately 82 dollars.
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