Concept explainers
Art masterpieces. In 2004, a collector paid $104,168,000 for Pablo Picasso’s “Garcon a la Pipe”. The same painting sold for $30,000 in 1950. (Source: BBC News, 5/6/04)
Boy with a Pipe (1905), Pablo Picasso ©2011 Picasso Estate/ARS
a. Find the exponential growth rate k, to three decimal places, and determine the exponential growth function V, for which
b. Predict the value of the painting in 2015.
c. What is the doubling time for the value of the painting?
d. How long after 1950 will the value of the painting be $1 billion?
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Calculus and Its Applications (11th Edition)
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