Question

A rare first-edition book is currently priced at $200. After one year, the price of the book is anticipated to be 1.15 times the current price of the book. Then, one year after that, the price of the book is anticipated to be 1.15 times the price of the book the previous year. If this pattern continues, which of the following graphs represents the price of the book over time?

Answer 1

Answer:

Graph Y is the correct answer

Step-by-step explanation:

after 1 year, the price would be $200 * 1.15 = $230

After 2 years, the price would be $230 * 1.25 = $264.5

As you can see, the graph X and Z do not start at $200 in the first year so it will be eliminated

The graph W show that after 2 years the price is $300 but the second year must have the price of $264.5 so the only option left is graph Y.

Hope this can help!