Robin purchased a piece of land in the year 2000 for $15,000. the value of the land increases at the rate of 13.17% each year. identify the function that represents the value of the land. does the function represent growth, or decay?
a) v(t) = 15000(0.8683)t; growth
b) v(t) = 15000(1.1317)t; decay
c) v(t) = 15000(0.08683)t; decay
d) v(t) = 15000(1.1317)t; growth