Using an exponential function, we have that:
a) In 10 years, the amount needed will be of $1,219 per week.
b) In 20 years, the amount needed will be of $1,486 per week.
c) In 30 years, the amount needed will be of $1,811 per week.
An increasing <u>exponential function</u> has the following format:
In which:
- A(0) is the initial value.
- r is the rate of change, as a decimal.
In this problem:
- Currently requires $1000, thus .
- Inflation of 2% per year, thus
Then, his weekly amount needed is going to be given by:
Item a:
In 10 years, we have that:
In 10 years, the amount needed will be of $1,219 per week.
Item b:
In 20 years, we have that:
In 20 years, the amount needed will be of $1,486 per week.
Item c:
In 30 years, we have that:
In 30 years, the amount needed will be of $1,811 per week.
A similar problem is given at brainly.com/question/21942338