Given:
Current worth = $454
Rate of increase = 15% = 0.15
Time = t
To find how much the book will be worth in 2 years, apply the exponential growth formula:
[tex]y=a(1+r)^t[/tex]Where:
a is the current worth = 454
r is the rate of increase = 0.15
t is the time = 2 years
Hence, we have:
[tex]\begin{gathered} y=454(1+0.15)^2 \\ \\ y=454(1.15)^2 \\ \\ y=454(1.3225) \\ \\ y=600.42 \end{gathered}[/tex]Therefore, the worth of the comic book in 2 years is $600.42
ANSWER:
$600.422 ye
