If the antique's value increases over time, it must be growing (not decaying) in value.
We're told the value increases by 12.12%, which means that if the current value is
, then the value after 1 year is 
. Each year, the value increases by the same factor, which means after 2 years, the value is 
; after 3 years, the value is 
; and so on.
Here is the starting value of the antique. So the answer is the second choice.
We're told the value increases by 12.12%, which means that if the current value is
Here