Peter bought an antique piece of furniture in 2000 for $10,000. experts estimate that its value will increase by 12.12% each year. identify the function that represents its value. does the function represent growth or decay?
a) v(t) = 1(1.1212)t; growth
b) v(t) = 1(0.8788)t; decay
c) v(t) = 1(1.1212)t; decay
d) v(t) = 1(0.8788)t; growth