Question

A limited-edition poster increases in value each year with an initial value of $18. After 1 year and an increase of 15% per year, the poster is worth $20.70. Which equation can be used to find the value, y, after x years? (Round money values to the nearest penny.)

Answer 1

Answer:y = 18(1.15)^x

Explanation:

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Answer 2

The required equation is
`y = 18(1.15)^x`.

Explanation:

Consider the provided information.

The Initial value of poster = $ 18

After 1 year amount of increase = $ 20.70

With the rate of 15% = 0.15

Let future value is y and the number of years be x.

`y = 18(1.15)^x`

Now verify this by substituting x=1 in above equation.

`y = 18(1.15)^1=20.7`

Which is true.

Hence, the required equation is
`y = 18(1.15)^x`.