The owner of a collector car sold the car at a auction. The owner bought it in 1977 when it's value was $7500. The value of the car increased at the rate of 5.5% per year. The auction took place in 2000. What is the approximate value of the car at the time of the auction.

$25,695

Step-by-step explanation:

You can calculate the price of the car in 2000 using the formula to calculate the future value:

FV=PV(1+r)^n

FV= future value

PV= Present value: $7,500

i= rate: 5.5%

n= number of years: 2000-1977= 23

FV= 7,500*(1+0.055)^23

FV= 7,500*(1.055)^23

FV= 7,500*3.426

FV= 25,695

According to this, the approximate value of the car at the time of the auction is $25,695.

i do not know the answer

step-by-step explanation:

correct choice is b

step-by-step explanation:

when you calculate the average rate of change of a function, you are finding the slope of the secant line between the two points. for the function the average rate of change from point to point can be calculated as

to find the average rate of change from day 2 to day 10, note that at day 2, 8 houses were sold, so a(2,8) and at day 10, 2 houses were sold, so b(10,2). thus,