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Designing exponential growth functions Complete the following steps for the given situation.
- a. Find the rate constant k and use it to devise an exponential growth function that fits the given data.
- b. Answer the accompanying question.
Rising costs Between 2010 and 2016, the average rate of inflation was about 1.6%/yr. If a cart of groceries cost $100 in 2010, what will it cost in 2025, assuming the rate of inflation remains constant at 1.6%?
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Calculus: Early Transcendentals and MyLab Math with Pearson eText -- Title-Specific Access Card Package (3rd Edition) (Briggs, Cochran, Gillett & Schulz, Calculus Series)
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