Chapter 11, Problem 19T

(a)

To determine

To calculate: The rate of change of the purchasing power of a 2012 dollar. If the purchasing power of a 2012 dollar can be modeled by the function $P\left(t\right)=1.078\left({0.9732}^t\right)$. Where t is the number of years past 2010.

(b)

To determine

To calculate: The $P\left(18\right)$, $P^{\prime }\left(18\right)$ and interpret if the purchasing power of a 2012 dollar can be modeled by the function $P\left(t\right)=1.078\left({0.9732}^t\right)$. Where t is the number of years past 2010.