Question

The selling price of a certain collector's item was $10 in 2000 and $15 in 2001. If the selling price of the item follows a geometric sequence, what would the price of the item be in 2002?

Answer 1

Find the rate of change by dividing the value of one term by the value of the preceding term, in your problem:

$15/$10 = 3/2 or 1.5, this is your rate of change

1.5 ($15) = $22.50

Explanation: