Question: in 2005 a company was worth 10 million each year...
In 2005, a company was worth $10 million. Each year, its value
increases by $2 million.
(a) Write down a model for the company’s value over time.
To avoid having to use huge numbers, make your independent variable the number
of years since 2005 (i.e. 2005 would be year 0) and make the dependent variable
the value in millions of dollars, not the value in dollars (i.e. when the independent
variable is 0, the dependent variable is 10, instead of 10,000,000).
(b) Find the company’s value in 2015.
(c) Determine when the company will be worth $40 million. Note that your answer
should be a year.
Hint: This question is asking us to solve for x given a certain value of y.