A bottle of a good wine originally cost $36. For each of the following scenarios, write...
A bottle of a good wine originally cost $36. For each of the following scenarios, write a formula for the value in dollars W of the bottle of wine as a function of the number of years t.
(a)
The price of the bottle increased by 13% each year.
W =
(b)
The price of the bottle decreased by 7% each year.
W =
(c)
The price of the bottle dropped by $3 each year.
W =
(d)
The price of the bottle remained steady.
W =
Homework Answers
a) Price of the bottle increased by 13% each year:
W = 36 * (1.13)t
b) Price of the bottle decreased by 7% each year:
W = 36 * (0.93)t
c) Price of the bottle dropped by $3 each year:
W = 36 - 3t
d) Price of the bottle remained steady:
W = 36
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