Answer:
Over 10 years, increasing 15% each year, the prices would have increased 305%.
Explanation:
If journal prices had a constant rate of increase, it's prices could be modeled by the following equation:
In which P(t) is the price after t years, P(0) is the initial price and r is the rate of increase.
If it increased 15% each year.
We would have r = 0.15. So
Over 10 years
The initial price is 100%
4.05P(0) - P(0) = 3.05P(0)
Over 10 years, increasing 15% each year, the prices would have increased 305%.