In 2014, the average ticket price for top rock concerts, adjusted for inflation, had increased by 77% since 1995. This was greater than the percent increase in the cost of tuition at private four-year colleges during the same time period. The bar graph shows the average ticket price, in 2015 dollars, for rock concerts in 1995 and 2014.

In 1995, the average ticket price, in 2015 dollars, for a rock concert was $40.36. On average, this has increased by approximately $1.63 per year since then.

a. Write a formula for the nth term of the arithmetic sequence that describes the average ticket price, in 2015 dollars, for rock concerts n years after 1994.

b. Use the model to project the average ticket price, in 2015 dollars, for rock concerts in 2020.

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Average Ticket Price (2015 dollars) $75 $60 $45 $30 $15 Average Ticket Price for Rock Concerts 71.25- 40.36 1995 Year 2014