Assume that the prices of consumer goods are increasing by 3.2% each year. a) Write an exponential function to model the increase in prices. b) Use your model from part a) to predict the price of 1 L of milk that costs $1.29 now in 25 years. c) Use your model from part a) to predict the price of one dozen golf balls that cost $29.99 now in 25 years.
Assume that the prices of consumer goods are increasing by 3.2% each year. a) Write an exponential function to model the increase in prices. b) Use your model from part a) to predict the price of 1 L of milk that costs $1.29 now in 25 years. c) Use your model from part a) to predict the price of one dozen golf balls that cost $29.99 now in 25 years.
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 prices of consumer goods are increasing by 3.2% each year.
a) Write an exponential function to model the increase in prices.
b) Use your model from part a) to predict the price of 1 L of milk that costs $1.29 now in 25 years.
c) Use your model from part a) to predict the price of one dozen golf balls that cost
$29.99 now in 25 years.
Please type out the answer or print very neatly. I cannot read cursive writing and it is very confusing the figure out the answer. Please show the work without explanation, I use the answer for the future so solve similar problems. Thank you
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