If the rate of inflation is 2.2% per year, the future price p () (in dollars) of a certain item can be modeled by the following exponential function, where r is the number of years from today. P(1) = 600(1.022)' Find the price of the item 5 years from today and 10 years from today. Round your answers to the nearest dollar as necessary. Price 5 years from today: Price 10 years from today:
If the rate of inflation is 2.2% per year, the future price p () (in dollars) of a certain item can be modeled by the following exponential function, where r is the number of years from today. P(1) = 600(1.022)' Find the price of the item 5 years from today and 10 years from today. Round your answers to the nearest dollar as necessary. Price 5 years from today: Price 10 years from today:
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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