If the rate of inflation is 2.8% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today. p(t) = 2500(1.028) Find the current price of the item and the price 10 years from today. Round your answers to the nearest dollar as necessary. Current price: Price 10 years from today: S

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Question 5
If the rate of inflation is 2.8% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, where t is the
number of years from today.
p(t) = 2500(1.028)'
Find the current price of the item and the price 10 years from today.
Round your answers to the nearest dollar as necessary.
Current price:
Price 10 years from today: $
I Don't Know
Sulmit
Transcribed Image Text:Objective Knowledge Check Question 5 If the rate of inflation is 2.8% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today. p(t) = 2500(1.028)' Find the current price of the item and the price 10 years from today. Round your answers to the nearest dollar as necessary. Current price: Price 10 years from today: $ I Don't Know Sulmit
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