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.)

- 10/1 151

Answer 1

it is A

Explanation:

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Answer 2

`y=18(1.15)^x`

Explanation:

The initial value of the poster =$18

Its value increases by 15% each year.

We can model this using the exponential growth function.

`y(x)=y_0\cdot r^x $ where y_0$ is the initial value and r is the growth factor.`

Growth Factor, r=1+0.15=1.15

Therefore:

`y(x)=18(1.15)^x`

After 1 year, when x=1

`y(1)=18(1.15)^1=\$20.70`

This is true.

Therefore, the model is valid and its value, y after x years will be:

`y=18(1.15)^x`