A pound of sirloin that originally sold for  $6.79  undergoes a  5%  price increase each year.   Part: 0 / 2 0 of 2 Parts Complete   Part 1 of 2       (a) Find the new cost of the pound of sirloin after  14  years. Round your answer to the nearest cent.     The new cost of the pound of sirloin after  14  years is  $13.44 .         Part: 1 / 2 1 of 2 Parts Complete   Part 2 of 2       (b) If, on the other hand, the cost of the pound of sirloin increased by  5%  of the original cost each year for  14  years, how would that compare to your answer from part (a)? Round all intermediate calculations and the final answer to the nearest cent.     The pound of sirloin would cos

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A pound of sirloin that originally sold for 

$6.79
 undergoes a 
5%
 price increase each year.

 

Part: 0 / 2
0 of 2 Parts Complete
 
Part 1 of 2
 
 
 

(a) Find the new cost of the pound of sirloin after 

14
 years. Round your answer to the nearest cent.

 

 

The new cost of the pound of sirloin after 
14
 years is 
$13.44
.
 
 
 

 

Part: 1 / 2
1 of 2 Parts Complete
 
Part 2 of 2
 
 
 

(b) If, on the other hand, the cost of the pound of sirloin increased by 

5%
 of the original cost each year for 
14
 years, how would that compare to your answer from part (a)? Round all intermediate calculations and the final answer to the nearest cent.

 

 

The pound of sirloin would cost 
$
 ▼(Choose one).
 
 
 
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