The value of a rare painting has increased each year since it was found at a garage sale. The value of the painting is modeled by the function f(x) = 799(1.03)x. What does the 799 represent? What will the painting be worth after five years? Round your answer to the nearest dollar. 799 represents the value of the painting when it was found; the painting will be worth $926 after five years.
799 represents the increase in the value of the painting; the painting will be worth $103 after five years.
799 represents the value of the painting when it was found; the painting will be worth $804 after five years.
799 represents the total value of the painting; the painting will be worth $926 after five years.