Question

On the total amount of money spent by a school district for 1980 through 2000, the percent, p, spent on athletics can be modeled by this equation;

P=2.49(1.07)^t

Where t stands for time, and t=0 in 1980.

Use the formula to calculate how much the district spent in 1999. Round your answer to the nearest thousandth.

Answer 1

the correct answer to this is 10.633

Explanation:

since t=0 in 1980, t=19 in 1999

substitute 19 for t then evaluate

p=2.94(1.07)^t

=2.94(1.07)^19

=2.94(3.6165)

=10.633

Answer 2

t = 0 is 1980

so t = 1999 - 1980 = 19

P = 2.49(1.07)^19 = 9.005