A toy tractor sold for 292 in 1977 and was sold again in 198

A toy tractor sold for $292 in 1977 and was sold again in 1985 for $403. Assume that the growth in the value V of the collector\'s item was exponential. Find the value K of the exponential growth rate. Assume v_0 = 292. k = (Round to the nearest thousandth) Find the exponential growth function in terms of t, where t is the number of years since 1977. V(t) =

Solution

V(t) = V0 e^(kt)

So

V(t) = 292 * e^(0.40t)