Assume that the annual rate of inflation will average 3.8% over the next 10 years. a) Write an equation to model the approximate cost, C, of goods and services during any year in the next decade. b) If the price of a brake job for a car is presently $400, estimate the price 10 years from now. c) If the price of an oil change 10 years from now will be $47.95, estimate the price of an oil change today.
Assume that the annual rate of inflation will average 3.8% over the next 10 years. a) Write an equation to model the approximate cost, C, of goods and services during any year in the next decade. b) If the price of a brake job for a car is presently $400, estimate the price 10 years from now. c) If the price of an oil change 10 years from now will be $47.95, estimate the price of an oil change today.
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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Assume that the annual rate of inflation will average 3.8% over the next 10 years. a) Write an equation to model the approximate cost, C, of goods and services during any year in the next decade. b) If the price of a brake job for a car is presently $400, estimate the price 10 years from now. c) If the price of an oil change 10 years from now will be $47.95, estimate the price of an oil change today.
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