If the rate of inflation is 4.1% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, wheret is the number of years from today. (i) 1200(1.041) p Find the current price of the item and the price 8 years from today. Round your answers to the nearest dollar as necessary Current price: Price 8 years from today: ?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
Problem 1CYU
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If the rate of inflation is 4.1% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following
exponential function, wheret is the number of years from today.
(i) 1200(1.041)
p
Find the current price of the item and the price 8 years from today.
Round your answers to the nearest dollar as necessary
Current price:
Price 8 years from today:
?
Transcribed Image Text:If the rate of inflation is 4.1% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, wheret is the number of years from today. (i) 1200(1.041) p Find the current price of the item and the price 8 years from today. Round your answers to the nearest dollar as necessary Current price: Price 8 years from today: ?
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