Answer:
1. the predicted value of the painting in 2014
Step-by-step explanation:
In the expression, 120 represents the initial value of the painting.
In expression [tex]120(1.08)^t[/tex], t is the number of years since 2014, and 120 represents the predicted value of the painting in 2014.
Exponential growth occurs if a quantity increases by the same factor over equal intervals of time and if a quantity increases by the same factor over equal intervals of time then it is said to be exponential decay.