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The average price of a two-bedroom apartment downtown New York City during the real estate boom from 1994 to 2004 can be approximated by p(t) = 0.33e0.16 million dollars (0 ≤ts 10), where t is time in years. (t = 0 represents 1994.) What was the average price of a two-bedroom apartment in downtown New York City in 1996? (Round your answers to two significant digits.) HINT [See Quick Example 14.] million dollars How fast was the price increasing? million dollars per year

The average price of a two-bedroom apartment downtown New York City during the real estate boom from 1994 to 2004 can be approximated by p(t) = 0.33e0.16 million dollars (0 ≤ts 10), where t is time in years. (t = 0 represents 1994.) What was the average price of a two-bedroom apartment in downtown New York City in 1996? (Round your answers to two significant digits.) HINT [See Quick Example 14.] million dollars How fast was the price increasing? million dollars per year

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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The average price of a two-bedroom apartment in downtown New York City during the real estate boom from 1994 to 2004 can be approximated by p(t) = 0.33e0.16t million dollars (0 ≤ t ≤ 10), where t is time in years. (t = 0 represents 1994.)+ What was the average price of a two-bedroom apartment in downtown New York City in 1996? (Round your answers to two significant digits.) HINT [See Quick Example 14.] million dollars How fast was the price increasing? million dollars per year
Transcribed Image Text:The average price of a two-bedroom apartment in downtown New York City during the real estate boom from 1994 to 2004 can be approximated by p(t) = 0.33e0.16t million dollars (0 ≤ t ≤ 10), where t is time in years. (t = 0 represents 1994.)+ What was the average price of a two-bedroom apartment in downtown New York City in 1996? (Round your answers to two significant digits.) HINT [See Quick Example 14.] million dollars How fast was the price increasing? million dollars per year
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