Answer: $178
Step-by-step explanation:
We know that the exponential growth equation with rate of growth r in time period x is given by :-
[tex]f(x)=A(1+r)^x[/tex], A is the initial value .
Given: The initial value of car = $75
Rate of growth : 9%=0.09
Now, the function represents the car's value after x years is given by ;-
[tex]f(x)=75(1+0.09)^x=75(1.09)^x[/tex]
Thus, the value of the model car after 10 years is given by :-
[tex]f(10)=75(1.09)^{10}=177.552275594\approx178[/tex] [To the nearest dollar]
Hence, the estimated value of the model car after 10 years = $178
