Answered

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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

Sagot :

MrRoyal

Answer:

[tex]y = 18 * 1.15^x[/tex]

Step-by-step explanation:

Given

[tex]a = 18[/tex] --- initial

[tex]r =15\%[/tex] -- rate

Value after a year = $20.70

Required

Expression to calculate its value after y years

This is calculated using:

[tex]y = ab^x[/tex]

Where

[tex]b=1 +r[/tex]

Substitute [tex]r =15\%[/tex] in [tex]b=1 +r[/tex]

[tex]b = 1 + 15\%[/tex]

[tex]b = 1 + 0.15[/tex]

[tex]b = 1.15[/tex]

Substitute [tex]b = 1.15[/tex] and [tex]a = 18[/tex] in [tex]y = ab^x[/tex]

[tex]y = 18 * 1.15^x[/tex]

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