Chapter 4.CR, Problem 8CR

Reminder Round all answers to two decimal places unless otherwise indicated.

Inflation An economist tracks the price of a certain item at the beginning of several years and compiles the following table.

Years	Price, in dollars
$2013$	$265.50$
$2014$	$273.47$
$2015$	$281.67$
$2016$	$290.12$

a. Show that the price is growing as an exponential function.

b. Find an exponential model for the data.

c. At the beginning of some year, the price will surpass $\$325$. Use your model to determine which year.