Suppose the retail price of an automobile is $27,000 in 1997 and that it increases at 4% per year. a. Write the equation of the exponential function, in the form y = a(1 +r), that models the retail price of the automobile t years after 1997 b. Use the model to predict the retail price of the automobile in 2011. %3D a. Choose the function that models the retail price of the automobile t years after 1997. P(t)= 27,000(0.96)' P(t)=27,000(1.04) O P)=27,000(5)

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 78E
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Suppose the retail price of an automobile is $27,000 in 1997 and that it increases at 4% per year.
a. Write the equation of the exponential function, in the form y = a(1 + r)', that models the retail price of the automobile t years after 1997
b. Use the model to predict the retail price of the automobile in 2011.
a. Choose the function that models the retail price of the automobile t years after 1997.
%3D
P(t)= 27,000(1.04)'
%3D
P(t) = 27,000(5)
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Transcribed Image Text:P. * 00 %24 AWM Suppose the retail price of an automobile is $27,000 in 1997 and that it increases at 4% per year. a. Write the equation of the exponential function, in the form y = a(1 + r)', that models the retail price of the automobile t years after 1997 b. Use the model to predict the retail price of the automobile in 2011. a. Choose the function that models the retail price of the automobile t years after 1997. %3D P(t)= 27,000(1.04)' %3D P(t) = 27,000(5) Click to select your answer and then click Check Answer. 1 part Clear All Final Check Copyright O 2021 PearsoN Education INC. AlI Tignts reservea. | Terms oT Use | Privacy Policy T Permissionns Cor e here to search L. 风 F5 -D F8 F12 & %23 4. 5. 7. R G K. C B
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