contestada

With an annual rate of inflation of 4.5% over the next years,the approximate cost C of goods or services during any year in the decade is given by

c(t) = p(1.045)t, 0 ≤ t ≤ 10

Where t is the time (in years) and p is the represent cost.The price of a base ball game ticket is presently $20.Estimate the price 10 years from now.

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Answer:

Step-by-step explanation:

Let us consider the exponential function [tex]C(t)=P(1.045)^{t},0\leqt\leq10[/tex]

Here [tex]t[/tex] is the time and [tex]P[/tex] is the present cost

Also, given the present cost is $20

Now to estimate the price 10 years from  now,

Substitute [tex]t=10[/tex] and [tex]P=$20[/tex] in [tex]C(t)=(1.045)^t[/tex]

[tex]C(t)=(1.045)^t\\=$20(1.045)^{10}\\=$31.06[/tex]

Therefore, price for the ticket is $31.06

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