PLZ HELPP REWARD BRIANLIEST
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We have been given that a limited edition poster increases in value each year with an initial value of $18. After one year and an increase of 15% per year, the poster is worth $20.70.
We will use exponential growth formula to find our required equation.
We know that an exponential function is in form , where
a = Initial value,
r = Growth rate in decimal form,
x = Time.
Let us convert 15% into percentage.
Initial value is 18.
Upon substituting these values in above formula, we will get:
Let us check our function by finding the value of poster after one year as:
Since the value of poster after 1 year matched with our findings, therefore, the equation can be used to fund the value, y, after x years.