If the rate of inflation is3.7% per year the future price p(t)(in dollars) of a certain item can be modeled by the following exp

Question

3 years ago

8

If the rate of inflation is3.7% per year the future price p(t)(in dollars) of a certain item can be modeled by the following exp

onential function where t is the number of years from today
p(t)= 600(1.037^t)
Find the current price of the item and the price 10 years from today
Round your answers to the nearest dollar necessary
Current price :
Price 10 years from today :

Mathematics

1 answer:

Eduardwww [97] · Answer 1 · 2022-04-27T20:15:43+03:00

Eduardwww [97]3 years ago

7 0

Current price : 600
Price 10 years from today :
P (10)=600×(1.037)^(10)=862.86