Question

The value of a collector’s item is expected to increase exponentially each year. The item is purchased for $500. After 2 years, the item is worth $551.25. Which equation represents y, the value of the item after x years?

a. y = 500(0.05)x
b.y = 500(1.05)x
c. y = 500(0.1025)x
d. y = 500(1.1025)x

Answer 1

I think it's C