Investing in coins: The purchase of a “collector’s item” is often made in hopes the item will increase in value. In 1998, Mark purchased a 1909-S VDB Lincoln Cent (in fair condition) for $150. By the year 2004, its value had grown to $190. (a) Use the relation (time since purchase, value) with t = 0 corresponding to 1998 to find a linear equation modeling the value of the coin. (b) Discuss what the slope and y-intercept indicate in this context. (c) How much was the penny worth in 2009? (d) How many years after purchase will the penny’s value exceed $250? (e) If the penny is now worth $170, how many years has Mark owned the penny?
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