Average health premiums have been increasing at a rate of 10%. If an average family's premiums are $13,300 this year, what will they be in 5 years?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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Average health premiums have been increasing at a rate of 10%. If an average family's
premiums are $13,300 this year, what will they be in 5 years?
If necessary, round your answer to the nearest cent.
Transcribed Image Text:Average health premiums have been increasing at a rate of 10%. If an average family's premiums are $13,300 this year, what will they be in 5 years? If necessary, round your answer to the nearest cent.
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