Question

1. the value of a painting can be predicted by the expression $120(1.08)^t$, where $t$ is the number of years since 2014. what does the value 120 represent? \\(\bigcirc\\) a. the number of years for which the value of the painting is predicted to continue changing \\(\bigcirc\\) b. the predicted percent change in the value of the painting each year \\(\bigcirc\\) c. the predicted change in the value of the painting each year \\(\bigcirc\\) d. the predicted value of the painting in 2014

Explanation:

The given expression follows the exponential growth model $P(1+r)^t$, where $P$ is the initial value, $r$ is the growth rate, and $t$ is time. Here, $t$ is years since 2014, so when $t=0$ (the year 2014), the expression simplifies to 120, which is the initial value of the painting in 2014.

Answer:

D. the predicted value of the painting in 2014