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Math Help - Function Notation word problem

  1. #1
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    Function Notation word problem

    Just looking for someone to get me started, as I am absolutely lost on these problems:

    The purchase of a "collector's item" is often made in hopes the item will increase in value. In 1998, Mark purchases a 1909-S VDB Lincoln Cent(in fair condition) for $150. By the year 2004, its value has grown to $190.

    a) Use the relation(time since purchase,penny's value C) with t = 0 corresponding to 1998 to find a linear equation modleing the value of the coin


    b) How much will the penny be worth in 2009?



    c) How many years after the purchase will the penny's value exceed $250?



    d) If the penny is now worth $170, how many years has Mark owned the penny?



    Any help would be appreciated!
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  2. #2
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    in 6 years, the value has increased $40. if the value increases at the same rate, then ...

    \displaystyle V = 150 + \frac{40}{6} \cdot t

    ... where V is the value in $ and  t is the time in years since 1998.

    part (a) is done ... now answer the other questions.
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  3. #3
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    Thanks...I was definitely over thinking it!
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  4. #4
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    the value of the coin has increased $190 - $150 = $40 over six years. How much does it increase per year? This will give you the gradient of your equation. The value of the coin at t=0 is $150, this gives you the constant.
    your equation will be in the form C(value) = m(gradient) *t(# years since 1998) + c(constant)

    Once you have this, b-d will simply be a matter of re-arranging this equation to isolate variables
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