Question

The price of silver has increased by 15% per year from 2000. In the year 2000, Harry bought a silver bowl for $190. Which of the following equations can be used to represent the price of the bowl x years after 2000?

y = 190(0.85)x
y = 190(1.15)x
y = 15(1.15)x
y = 15(0.85)x

Answer 1

y = 190(1.15)x

Explanation:

To solve this, we are going to use the standard exponential function:

f(x)=a(1+b) to the power of x

Where f(x) is the final price after x years

a is the initial price

b is the rate in decimal form

x is the time in years

We know from our problem that the initial price is $190, so a=190. Now to convert the rate, 15%, to decimal form, we are going to divide it by 100%, so r=15/100=0.15. Let's replace the values:

f(x)=a(1+b) to the power of x

f(x)=190(1+0.15) to the power of x

f(x)= 190(1.15) to the power of x

Answer 2

Answer: The answer is 190(1.15) x

Step-by-step explanation: Th formula for this question is f(x)=P(1+r) x

F(x) represents the function notation

P represents the principal it also the value of the y-intercept

R represents the rate of change it is also expressed as a decimal

x represents the variable in an exponential function

So, the equation for this question is

To get 0.15 Divide 15 by 100=15/100=0.15

190(1+0.15) x

190(1.15)x

Hope this was helpful