Assuming that the annual rate of inflation averages 3% over the next 10 years, the approximate costs C of goods or services during any year in that decade will be modeled by C(t) = P(1.03)', where t is the time in years and P is the present cost. The price of an oil change for your car is presently $29.96. Estimate the price 10 years from now. (Round your answer to the nearest cent.) 24
Assuming that the annual rate of inflation averages 3% over the next 10 years, the approximate costs C of goods or services during any year in that decade will be modeled by C(t) = P(1.03)', where t is the time in years and P is the present cost. The price of an oil change for your car is presently $29.96. Estimate the price 10 years from now. (Round your answer to the nearest cent.) 24
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 1PS
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Assuming that the annual rate of inflation averages 3% over the next 10 years, the approximate costs C of goods or services during any year in that decade will be modeled by C(t) = P * (1.03) ^ t where t is the time in years and P is the present cost. The price of an oil change for your car is presently $29.96Estimate the price 10 years from now. (Round your answer to the nearest cent .)
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