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Assuming that the annual rate of inflation averages 3% over the next 15 years, the approximate costs C of goods or services during any
Assuming that the annual rate of inflation averages 3% over the next 15 years, the approximate costs C of goods or services during any year in that decade will be modeled by C(t) = P(1.03), where t is the time in years and P is the present cost. The price of an oil change for your car is presently $28.89. Estimate the price 15 years from now. (Round your answer to the nearest cent.) $
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