Javier bought a painting for $150. Each year, the painting's value increases by a factor of 1.15.Which expression gives the painting's value after 7 years?Choose 1 answer:(A) 150+1.15⋅7(B) 150⋅1.157(C) (150⋅1.15)7(D) (150+1.15)⋅7
Q. Javier bought a painting for $150. Each year, the painting's value increases by a factor of 1.15.Which expression gives the painting's value after 7 years?Choose 1 answer:(A) 150+1.15⋅7(B) 150⋅1.157(C) (150⋅1.15)7(D) (150+1.15)⋅7
Identify nature of increase: Identify the nature of the increase in the painting's value.The painting's value increases by a factor of 1.15 each year, which means it is a case of exponential growth.
Determine mathematical representation: Determine the correct mathematical representation for exponential growth.Exponential growth is represented by the initial value A multiplied by the growth factor r raised to the power of the number of time periods t, which can be written as A⋅rt.
Match options with correct representation: Match the given options with the correct representation of exponential growth.Option (A) represents linear growth, which is incorrect.Option (B) represents the initial value multiplied by the growth factor raised to the power of 7, which matches the correct representation of exponential growth.Option (C) incorrectly raises the product of the initial value and the growth factor to the power of 7.Option (D) represents a sum multiplied by 7, which is also incorrect.
Choose correct option: Choose the correct option based on the analysis.The correct option that represents the painting's value after 7 years is (B) 150×1.157.
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