227k views
18 votes
Write a function in terms of t that represents the situation.

An item costs $4.50, and its price increases by 3.5%
each year.

Write a function in terms of t that represents the situation. An item costs $4.50, and-example-1
User Satevis
by
5.7k points

1 Answer

5 votes

Answer:

4.5(1.035)^t

Explanation:

An inrease of 3.5% means that each year's total is 103.5% of the year before, right?

Year 1 = 4.5(1.035) = 4.66

Year 2 = 4.66(1.035) = 4.82

etc.

So, year 2 is 4.5(1.035)(1.035) = 4.82

Multiplying something by itself can be written with an exponent instead, so 2 years is...

4.5(1.035)2

Since the number of years is the variable (let's call it t)...

User Killogre
by
6.6k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.