Answer:
The option A.) 2007 is correct
Step-by-step explanation:
The formula which is to be used is given :
where P(t) is the function of time t and t is the time in years after January 1 , 1980
Now, we need to find the year when the price will reach $4
So, substituting P(t) = 4 and finding the value of t from the given equation.
So, t = 27.49 which is approximately equals to 27.5 years
So, 27.5 years after January 1, 1980 is the year 2007
Hence, The price will reach $4 in the year 2007
Therefore, The option A.) 2007 is correct