Answer:
The current price is $3000 and price after 9 years from today is $4054.
Step-by-step explanation:
The future price pt(in dollars) of a certain item can be modeled by the following exponential function
where, t is the number of years from today.
Substitute t=0 to find the current price.
Therefore the current price is $3000.
Substitute t=9 to find the price after 9 years from today.
Therefore the price after 9 years from today is $4054.
We have been given a system of equations. and
. We are asked to find the solution of our given system of equations.
The solution of our given system of equations will be the point, where both lines will intersect.
To find intersection point, we will equate both equations as:
Now we will substitute in equation
and solve for y.
Therefore, the point is the solution of our given system of equations.
We can verify our answer by graphing both equations.
