The value of an antique bureau can be modeled by the function V(t)=965(1.06)t, where t is the number of years since the bureau was purchased. Which statements are true?

Select each correct answer.

The bureau was purchased for $965.

The rate of appreciation is 1.06%.

The bureau was purchased for $106.

The rate of appreciation is 106%.

After 5 years the bureau will have a value of about $1291.