-MATH 130-27, Fall 7-DL Quiz 9 | 2of5 Dustin Press F11 to exit full screen Españ

Question

-MATH 130-27, Fall 7-DL Quiz 9 | 2of5 Dustin Press F11 to exit full screen Español 2 5 If the rate of inflation is 3.9% 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 (r) = 400(1.039)' Find the current price of the item and the price 9 years from today. Round your answers to the nearest dollar as necessary. Current price Price 9 years from today : S Submit Assignment 2017 McGraw-Hill Education-All Rights Reserved. Terms of Use | Privacy Accessibility

Explanation / Answer

p(t)=400(1.039)t

current price =>t=0

current price=400(1.039)0

current price=400(1)=$400

price nine years from today =>t=9

price nine years from today=400(1.039)9=400*1.41104196=564.416784=$564

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