Exponential Growth Problem. Is this solution correct?

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I would just like to confirm that I'm doing this correctly. If not, any help would be appreciated. Thanks!



The problem:



A painting sold for $$274$ in $1977$ and was sold again in $1987$ for $$470$. Assume that the growth in the value $V$ of the collector’s item was exponential.



Find the value $k$ of the exponential growth rate. Assume $V_0 = 274$.



My attempt at solving it:



$470=274e^10k$



$k = 0.054$ (rounded to the nearest thousandth)






algebra-precalculus proof-verification exponential-function







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  • The answer is correct.
    – André Nicolas
    Mar 7 '14 at 21:56










  • Correct, but you might want to write the exponent as $10k$.
    – marty cohen
    Jul 24 '17 at 22:07














up vote
0
down vote

favorite












I would just like to confirm that I'm doing this correctly. If not, any help would be appreciated. Thanks!



The problem:



A painting sold for $$274$ in $1977$ and was sold again in $1987$ for $$470$. Assume that the growth in the value $V$ of the collector’s item was exponential.



Find the value $k$ of the exponential growth rate. Assume $V_0 = 274$.



My attempt at solving it:



$470=274e^10k$



$k = 0.054$ (rounded to the nearest thousandth)






algebra-precalculus proof-verification exponential-function







share|cite|improve this question























  • The answer is correct.
    – André Nicolas
    Mar 7 '14 at 21:56










  • Correct, but you might want to write the exponent as $10k$.
    – marty cohen
    Jul 24 '17 at 22:07












up vote
0
down vote

favorite









up vote
0
down vote

favorite











I would just like to confirm that I'm doing this correctly. If not, any help would be appreciated. Thanks!



The problem:



A painting sold for $$274$ in $1977$ and was sold again in $1987$ for $$470$. Assume that the growth in the value $V$ of the collector’s item was exponential.



Find the value $k$ of the exponential growth rate. Assume $V_0 = 274$.



My attempt at solving it:



$470=274e^10k$



$k = 0.054$ (rounded to the nearest thousandth)






algebra-precalculus proof-verification exponential-function







share|cite|improve this question















I would just like to confirm that I'm doing this correctly. If not, any help would be appreciated. Thanks!



The problem:



A painting sold for $$274$ in $1977$ and was sold again in $1987$ for $$470$. Assume that the growth in the value $V$ of the collector’s item was exponential.



Find the value $k$ of the exponential growth rate. Assume $V_0 = 274$.



My attempt at solving it:



$470=274e^10k$



$k = 0.054$ (rounded to the nearest thousandth)






algebra-precalculus proof-verification exponential-function




algebra-precalculus proof-verification exponential-function






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share|cite|improve this question













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edited Feb 4 at 10:43









TheSimpliFire

10.8k62054




10.8k62054










asked Mar 7 '14 at 21:53









Learner

3494921




3494921











  • The answer is correct.
    – André Nicolas
    Mar 7 '14 at 21:56










  • Correct, but you might want to write the exponent as $10k$.
    – marty cohen
    Jul 24 '17 at 22:07
















  • The answer is correct.
    – André Nicolas
    Mar 7 '14 at 21:56










  • Correct, but you might want to write the exponent as $10k$.
    – marty cohen
    Jul 24 '17 at 22:07















The answer is correct.
– André Nicolas
Mar 7 '14 at 21:56




The answer is correct.
– André Nicolas
Mar 7 '14 at 21:56












Correct, but you might want to write the exponent as $10k$.
– marty cohen
Jul 24 '17 at 22:07




Correct, but you might want to write the exponent as $10k$.
– marty cohen
Jul 24 '17 at 22:07










1 Answer
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Your answer is correct. The exact value would be



$$k = frac110lnleft(frac470274right)$$



which approximates to: $k approx 0.054$ as you said. Well done.






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    1 Answer
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    1 Answer
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    up vote
    0
    down vote













    Your answer is correct. The exact value would be



    $$k = frac110lnleft(frac470274right)$$



    which approximates to: $k approx 0.054$ as you said. Well done.






    share|cite|improve this answer
























      up vote
      0
      down vote













      Your answer is correct. The exact value would be



      $$k = frac110lnleft(frac470274right)$$



      which approximates to: $k approx 0.054$ as you said. Well done.






      share|cite|improve this answer






















        up vote
        0
        down vote










        up vote
        0
        down vote









        Your answer is correct. The exact value would be



        $$k = frac110lnleft(frac470274right)$$



        which approximates to: $k approx 0.054$ as you said. Well done.






        share|cite|improve this answer












        Your answer is correct. The exact value would be



        $$k = frac110lnleft(frac470274right)$$



        which approximates to: $k approx 0.054$ as you said. Well done.







        share|cite|improve this answer












        share|cite|improve this answer



        share|cite|improve this answer










        answered Mar 14 '14 at 9:42









        naslundx

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