Solve the problem.A painting was sold in 1985 for $1 million. The painting was then resold in 1996 for $6 million. Assume that the painting's value increases exponentially. Find the exponential growth rate k, and determine the exponential growth function, assuming V0 = 1. (Round decimals to three places.)

A. k = 0.163; V(t) = 1e0.163, where V(t) is in millions and t is the number of years after 1985.
B. k = 0.163; V(t) = 1e0.163t, where V(t) is in millions and t is the number of years after 1985.
C. k = 0.163; V(t) = 1e0.163t, where V(t) is in millions and t is the number of years after 1997.
D. k = 0.149; V(t) = 1e0.149t, where V(t) is in millions and t is the number of years after 1985.


Answer: B

Mathematics

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