Given the following question:
We are given 12.4%
If 5% of an item is 5$, what is the original price? Answer is not 25$
1 answer:
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Part A.
1) Function given:
2) Interpretation:
initial value: => x = 0 => f(x) = 0.69
table:
x f(x)
year price
0 0.69
1 0.69 * 1.03 = 0.7107 => increase = 3%
2 0.69 * (1.03)^2 = 0.732021 => increase = 3%
So, the answer is that the function is increasing at 3% per year.
Part B.
3) table
<span> t (number of years) 1 2 3 4
f(t) (price in dollars) 10,100 10,201 10,303.01 10,406.04
Percent change:
Year 2: 10,201 / 10,100 = 1.01 => 1% increase
Year 3: 10,303.01 / 10,201 = 1.01 => 1% increase
Year 4: 10,406.04 / 10,303.01 = 1.01 => 1% increase.
Answer: the </span><span>product of the part A recorded a greater percentage change in price over the previous year (3% vs 1%).</span>
1) Function given:
2) Interpretation:
initial value: => x = 0 => f(x) = 0.69
table:
x f(x)
year price
0 0.69
1 0.69 * 1.03 = 0.7107 => increase = 3%
2 0.69 * (1.03)^2 = 0.732021 => increase = 3%
So, the answer is that the function is increasing at 3% per year.
Part B.
3) table
<span> t (number of years) 1 2 3 4
f(t) (price in dollars) 10,100 10,201 10,303.01 10,406.04
Percent change:
Year 2: 10,201 / 10,100 = 1.01 => 1% increase
Year 3: 10,303.01 / 10,201 = 1.01 => 1% increase
Year 4: 10,406.04 / 10,303.01 = 1.01 => 1% increase.
Answer: the </span><span>product of the part A recorded a greater percentage change in price over the previous year (3% vs 1%).</span>