The value of a rare coin, , in dollars, years after its purchase, is modeled by the equation . Which of the following statements is true regarding the value of the coin?
The initial value of the coin was $400, and it increases by each year.
The initial value of the coin was $400, and it decreases by each year.
The initial value of the coin was $400, and it increases by each year.
The initial value of the coin was $1.08, and it increases by each year.
