Which of the contexts below could be modeled by an exponential function?AnswerAttempt 1 out of 2Multiple Choice AnswersAn elevator descends at a rate of 17 feet per second.An amusement park charges $2.50 to go on each of the rides.A taxi charges a flat fee of $3.50 for pick-up, then an additional fee of $4.75 per mile.A coin collection appreciates at a rate of 8% per year.
Question
Which of the contexts below could be modeled by an exponential function?AnswerAttempt 1 out of 2Multiple Choice AnswersAn elevator descends at a rate of 17 feet per second.An amusement park charges 3.50 for pick-up, then an additional fee of $4.75 per mile.A coin collection appreciates at a rate of 8% per year.
Solution
The context that could be modeled by an exponential function is "A coin collection appreciates at a rate of 8% per year."
This is because an exponential function describes a rate of growth that is proportional to the current value, which is the case with the coin collection. The value of the collection increases by a certain percentage each year, meaning it grows exponentially. The other options describe linear growth, not exponential.
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