The value V, in dollars, of a vintage guitar collection is modeled by the equation
V=12,500(1.06)t
where t is the number of years since 2005.
What is the best interpretation of the number 1.06 in this context?
The value V, in dollars, of a vintage guitar collection is modeled by the equation
where t is the number of years since 2005.
What is the best interpretation of the number 1.06 in this context?