Answer
See below
Work Step by Step
From part a, we found: $p=50(1+0.105)^n=50(1.105)^n$
The price after 5 bids: $p=50(1.105)^5=50(1.6474)=82.3723$
The price after 100 bids: $p=50(1.105)^{100}=50(21688.41)=1084420$
Algebra 2 (1st Edition)
by Larson, Ron; Boswell, Laurie; Kanold, Timothy D.; Stiff, Lee
Published by
McDougal Littell
ISBN 10:
0618595414
ISBN 13:
978-0-61859-541-9
Chapter 7 Exponential and Logarithmic Functions - 7.1 Graph Exponential Growth Functions - 7.1 Exercises - Problem Solving - Page 484: 40b
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
