Inflation Rate with an annual rate of inflation of 3% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by C(t) = P(1.03), osts 10 where t is the time (in years) and P is the present cost. The price of an oil change for a car is presently $24.94. Estimate the price (in $) 10 years from now. (Round your answer to two decimal places.) $
Inflation Rate with an annual rate of inflation of 3% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by C(t) = P(1.03), osts 10 where t is the time (in years) and P is the present cost. The price of an oil change for a car is presently $24.94. Estimate the price (in $) 10 years from now. (Round your answer to two decimal places.) $
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 40E
Related questions
Question
With an annual rate of inflation of 3% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by
C(t) = P(1.03)t, 0 ≤ t ≤ 10
where t is the time (in years) and P is the present cost. The price of an oil change for a car is presently $24.94. Estimate the price (in $) 10 years from now. (Round your answer to two decimal places.)
![Inflation Rate with an annual rate of inflation of 3% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by
C(t) = P(1.03), osts 10
where t is the time (in years) and P is the present cost. The price of an oil change for a car is presently $24.94. Estimate the price (in $) 10 years from now. (Round your answer
to two decimal places.)
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F03b8de10-db72-4871-992f-83fe241163fb%2Fe3c926a6-b1cd-45cd-bf3e-8b09b1294f6b%2F4w4s7f_processed.png&w=3840&q=75)
Transcribed Image Text:Inflation Rate with an annual rate of inflation of 3% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by
C(t) = P(1.03), osts 10
where t is the time (in years) and P is the present cost. The price of an oil change for a car is presently $24.94. Estimate the price (in $) 10 years from now. (Round your answer
to two decimal places.)
$
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