O EXPONENTIAL AND LOGARITHMIC FUNCTIONS Evaluating an exponential function that models a real-world situat... 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, where t is the number of years from today. p (i)1200 (1.041) 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: ? X

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 27E
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O EXPONENTIAL AND LOGARITHMIC FUNCTIONS
Evaluating an exponential function that models a real-world situat...
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, where t is the
number of years from today.
p (i)1200 (1.041)
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:
?
X
Transcribed Image Text:O EXPONENTIAL AND LOGARITHMIC FUNCTIONS Evaluating an exponential function that models a real-world situat... 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, where t is the number of years from today. p (i)1200 (1.041) 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: ? X
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