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?
y = 500(0.05)x
y = 500(1.05)x
y = 500(0.1025)x
y = 500(1.1025)x