The value of a piece of property doubles every 16 years. You buy the property for $50,000. Its value t years after the date of purchase should be $V ( t ) = 50,000 ( 2 ) ^ { t / 16 }$ . Use the model to approximate (to the nearest thousand dollars)the value of the property after 4 years.
A)$50,000
B)$6,400,000
C)$75,000
D)$59,000
E)$100,000

Question

Quizplus · Accepted Answer

The value of the property after 4 years is $V ( 4 ) = 50,000 ( 2 ) ^ { 4 / 16 } = 50,000 ( 2 ) ^ { 1 / 4 } \approx 59,000$ dollars.

The Value of a Piece of Property Doubles Every 16 V(t)=50,000(2)t/16V ( t ) = 50,000 ( 2 ) ^ { t / 16 }V(t)=50,000(2)t/16

The Value of a Piece of Property Doubles Every 16 $V ( t ) = 50,000 ( 2 ) ^ { t / 16 }$