Derek‘s parents are finalizing a budget for his college expenses his first year of college will cost $1000 in expenses will incr

Question

4 years ago

10

Derek‘s parents are finalizing a budget for his college expenses his first year of college will cost $1000 in expenses will incr

ease by 12% each year which statement is correct regarding the amount they should budget for dares for your college education to the nearest dollar

Mathematics

1 answer:

Alenkinab [10] · Answer 1 · 2021-12-13T14:09:11+03:00

Answer:

$4779

Step-by-step explanation:

First you need to write an equation to model this situation. In this case it's f(x)=1000(1.12)^x. College usually lasts 4 years, so to find the total amount of money they need to budget, you need to find the sum of f(0), f(1), f(2), and f(3).

This is roughly equivalent to 1000+1120+1254+1405, which equals 4779.