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.)

y = 18(1.15)x
y = 18(0.15)x
y = 20.7(1.15)x
y = 20.7(0.15)x

Answer 1

A) y = 18(1.15)x

Explanation:

Answer 2

Answer: A) 18(1.15)x

Explanation:

18 was the original cost, so the price will always be determined with this starting point. Sice there is an increasing value, that makes it 1.15 instead of .15. And it goes up by 15%, making it the coefficient.