Answer:
Step-by-step explanation:
Each year the paintings value increases by a factor of 1.15. It means that the rate at which the value is increasing is exponential. We would apply the formula for exponential growth which is expressed as
y = b(1 + r)^t
Where
y represents the value of the painting after t years.
t represents the number of years.
b represents the initial value of the painting.
r represents rate at which it is increasing.
From the information given,
b = $150
1 + r = 1.15
t = 7 years
Therefore, the expression for the value of the paintings after 7 years is
y = 150(1.15)^7
