Andrew and Meghan moved into an apartment in the city and pay $2,700 rent per month. The landlord told them the rent has increased 11.1% per year on average.
a. Express the rent y as an exponential function of x, the number of years they rent the apartment. Show.
b. Suppose the rent has increased $200 each year. Express the rent y as a function of the number of years x.
c. Graph the functions from parts and b on the same axes.
d. Describe the difference between how the two graphs show the increase in rent.