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The value, , of a Bonus Ragnew baseball card in mint condition appreciates at per year. It was sold at auction in 2001 for . If time in years since 2001, then .

  1. What was its value in 2010?

    We are given a value function, . Notice that years since 1991. Evaluate for the year 2000.

  2. Calculate the average value of the card over the period 2001 – 2010.

    Examine the equation above:

    What is the annual interest rate?

    What is the initial value of the card?

  3. When was the card worth the value you found in part (b)?

    Unlike average value (AROC), actual value (IROC) must be found with a derivative.

    Let your answer in part (b).

    The card was worth its average value in 1995 or 1996.