Question
If the rate of inflation is 3.4 % per year, the future price p t (in dollars) of a certain item can be modeled by
If the rate of inflation is 3.4
%
per year, the future price p
t
(in dollars) of a certain item can be modeled by the following exponential function, where t
is the number of years from today.
=
p
t
600
1.034
t
Find the current price of the item and the price 10
years from today.
Round your answers to the nearest dollar as necessary.
Current
price:
$
Price
10
years
from
today:
$
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Elementary Statisitcs
Authors: Barry Monk
2nd edition
1259345297, 978-0077836351, 77836359, 978-1259295911, 1259295915, 978-1259292484, 1259292487, 978-1259345296
