Kylie Jenner bought diamond encrusted Birkin Bag three years ago. Today the bag is worth $480,000. She expects the bag to double in price over the next four years.
a. Write the appreciation equation in function notation for this scenario.
b. What would the value of the bag be after 5 years?
Self Assessment
Creative Thinking: My mathematical inspiration for this project came from another word problem created by another student. I came up with the idea of the bag cause I knew I wanted to do an appreciation problem, and something Im interested in is fashion. I chose the Birkin Bags cause most fashion items actually depreciate, while because Birkin Bags are so exclusive they rise in value. I found this picture of a Birkin Bag on google images. However I couldn’t get a picture of Kylie’s due to licensing.
Critical Thinking: I used my own personal knowledge and did some light internet research. I made sure my equation worked because I reversed it and checked if it would play out the same if i did it the other way around.