Devise the exponential growth function that fits the given data, then answer the accompanying question. Be sure to identify the reference point (t = 0) and units of time. Between 2005 and 2010, the average rate of inflation in a certain country was about 3% per year. If a cart of groceries cost $160 in 2005, what will it cost in 2015 assuming the rate of inflation remains constant? What is the reference point (t= 0)? O A. the year 2010 O B. the year 2005 O C. the year 2015 O D. the inflation rate, 3% O E. the cost of groceries, $160 What are the units of time? O A. decades O B. years O C. carts of groceries O D. dollars Write the exponential growth function. y(t) = (Type an expression. Round coefficients to three decimal places as needed.) What will the cost of a cart of groceries be in the year 2015? (Round to the nearest cent as needed.)

Calculus: Early Transcendentals
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Chapter1: Functions And Models
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Devise the exponential growth function that fits the given data, then answer the accompanying question. Be sure to identify the reference point (t = 0) and units of time.
Between 2005 and 2010, the average rate of inflation in a certain country was about 3% per year. If a cart of groceries cost $160 in 2005, what will it cost in 2015 assuming the rate of inflation remains constant?
What is the reference point (t= 0)?
A. the year 2010
B. the year 2005
C. the year 2015
D. the inflation rate, 3%
O E. the cost of groceries, $160
What are the units of time?
A. decades
В. уеars
C. carts of groceries
D. dollars
Write the exponential growth function.
y(t) =
(Type an expression. Round coefficients to three decimal places as needed.)
What will the cost of a cart of groceries be in the year 2015?
$ (Round to the nearest cent as needed.)
Transcribed Image Text:Devise the exponential growth function that fits the given data, then answer the accompanying question. Be sure to identify the reference point (t = 0) and units of time. Between 2005 and 2010, the average rate of inflation in a certain country was about 3% per year. If a cart of groceries cost $160 in 2005, what will it cost in 2015 assuming the rate of inflation remains constant? What is the reference point (t= 0)? A. the year 2010 B. the year 2005 C. the year 2015 D. the inflation rate, 3% O E. the cost of groceries, $160 What are the units of time? A. decades В. уеars C. carts of groceries D. dollars Write the exponential growth function. y(t) = (Type an expression. Round coefficients to three decimal places as needed.) What will the cost of a cart of groceries be in the year 2015? $ (Round to the nearest cent as needed.)
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