Question

A limited-edition poster increases in value each year. After 1 year, the poster is worth $20.70. After 2 years, it is worth $23.81. Which equation can be used to find the value, y, after x years? (Round money values to the nearest penny.)

Answer 1

Its y=18(1.15)x

Yr 2 = 20.70 so yr 1 must have started less than that.

At 18 in yr 1, a 15% increase would make it 20.70 in yr 2, and 23.81 in yr 3.

Hope this helps.