Question

The equation, y = 12841(1.01)x , represents the average cost of an education at a private college, after 1990. What is the average cost in 1990 (x = 0)?

A. $12,969
B. $12,841
C. $13,122
D. $13,099

Answer 1

Option B is correct.

the average cost in 1990 is, $12,841

Explanation:

Given the equation :

`y = 12841(1.01)^x` ....[1]

where y represents the he average cost of an education at a private college after 1990 and x be the time in years.

We have to find the average cost in 1990.

⇒
`x = 0`

Substitute in [1] we have;

`y = 12841(1.01)^0`

Simplify:

`y =\$12,841`

Therefore, the average cost in 1990 is, $12,841

Answer 2

The average cost in 1990 is $12,841.