<p>The value of an antique is estimated to increase by $k$% per year. Given that its value at the beginning of $2017$ was $\$20\ 000$. The value $V$, after $t$ years, can be modelled by $V = A(1.11)^t$.</p>
<ol class="i-list"><li><div class="list-item-paragraph">State the value of $A$ and of $k$.<span class="inline-marks">[2]</span></div></li><li><div class="list-item-paragraph">Calculate the year when its estimated value will first reach $\$190\ 000$.<span class="inline-marks">[2]</span></div></li></ol>

The value of an antique is estimated to increase by $k$% per year. Given that its value at the beginning of $2017$ was $\$20\ 000$. The value $V$, after $t$ years, can be modelled by $V = A(1.11)^t$.

(ii) Calculate the year when its estimated value will first reach $190000.

Calculate the year when its estimated value will first reach $\$190\ 000$.

Applications of Exponential and Logarithmic Functions

2022 SGSS AM S4 P1 Q2 (b)

2022 SGSS AM S4 P1 Q2 (b)

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