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If the rate of inflation is 4.1 % per year, the future price p t (in dollars) of a certain item can be modeled by

If the rate of inflation is 4.1

per year, the future price p

(in dollars) of a certain item can be modeled by the following exponential function, where t

is the number of years from today.

400

1.041

Find the current price of the item and the price 10

years from today.

Round your answers to the nearest dollar as necessary.

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