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Advanced MathQ&A LibraryUsing Social Security Administration data for selected years from 2012 and projected to 2050, the U.S. consumer price index (CPI) can be described by the equationC = 0.068 + 1.8t + 96where t is the number of years past 2010. With 2012 as the reference year, a year in which the CPI = 120.56 means goods and services that cost $100.00 in 2012 are expected to cost $120.56 in that year. Find the year in which the CPI is predicted to reach 150.00.Question

Asked Sep 25, 2019

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Using Social Security Administration data for selected years from 2012 and projected to 2050, the U.S. consumer price index (CPI) can be described by the equation

C = 0.068 + 1.8t + 96

where t is the number of years past 2010. With 2012 as the reference year, a year in which the CPI = 120.56 means goods and services that cost $100.00 in 2012 are expected to cost $120.56 in that year. Find the year in which the CPI is predicted to reach 150.00.

Step 1

Considering the Consumer price index (CPI) by the equation

C =** 0.068t ^{2} + 1.8t + 96**

Step 2

This is a quadratic equation and the formula to solve is shown below:

Step 3

Applying this formula and solving for **t...**

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