The price of a certain object was $9.75 in 2006 and $15.00 in 2012. Assume that the price has been increasing at a constant rate since 2000. Determine the rate of change in the price of the object, that is, how much the price increases each year. Do not round your answer. Write an equation to model the price of the object over time, with y representing the price of the object in dollars, and a representing the number of years since 2000. Write your final answer in the form y = mx + b. (You may use the point-slope form to help you find the equation.) Looking at your equation, what was the price of the object in the year 2000? If necessary, round to your answer to two decimal places. S How much does the object cost now, in 2022? S

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The price of a certain object was $9.75 in 2006 and $15.00 in 2012. Assume that the price has been increasing at a constant rate since 2000.

1. **Determine the rate of change in the price of the object**, that is, how much the price increases each year. Do not round your answer.
   - [Answer box]

2. **Write an equation to model the price of the object over time**, with \( y \) representing the price of the object in dollars, and \( x \) representing the number of years since 2000. Write your final answer in the form \( y = mx + b \). (You may use the point-slope form to help you find the equation.)
   - [Answer box]

3. **Looking at your equation, what was the price of the object in the year 2000?** If necessary, round your answer to two decimal places.
   - $[Answer box]

4. **How much does the object cost now, in 2022?**
   - $[Answer box]
Transcribed Image Text:The price of a certain object was $9.75 in 2006 and $15.00 in 2012. Assume that the price has been increasing at a constant rate since 2000. 1. **Determine the rate of change in the price of the object**, that is, how much the price increases each year. Do not round your answer. - [Answer box] 2. **Write an equation to model the price of the object over time**, with \( y \) representing the price of the object in dollars, and \( x \) representing the number of years since 2000. Write your final answer in the form \( y = mx + b \). (You may use the point-slope form to help you find the equation.) - [Answer box] 3. **Looking at your equation, what was the price of the object in the year 2000?** If necessary, round your answer to two decimal places. - $[Answer box] 4. **How much does the object cost now, in 2022?** - $[Answer box]
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