Tickets for a concert have been in increadbibly high demand. and as the date for the concert draws closer the price of tickets i ncreases exponentially. the cost of a pair of concert tickets was $96 yesterday and today it is $108.
1 answer:
Answer:
multiplier 1.125 percent rate 12.5% p(t) = 108·1.125^t p(7) = $246.32 p(-3) = $75.85 Step-by-step explanation:
a) The daily multiplier is 108/96 = 1.125
b) The daily percentage change is 1.125 -1 = .125 = 12.5%
c) The function can be written as ...
price = (initial value)·(daily multiplier)^t
p = 108·1.125^t
d) for t=7, put the number in and do the arithmetic.
108·1.125^7 ≈ 246.32 . . . dollar cost in a week
e) same deal, for t=-3
108·1.125^-3 ≈ 75.85 . . . .dollar cost 3 days ago
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