Question

The function c ( x ) = 63 ⋅ ( 1.03 ) x models the cost in dollars, c , of 1 ounce of a certain chemical used in a laboratory. x represents the number of years since 1990.

How much does an ounce of the chemical cost in 2005? (Do NOT type the $ with your answer.)

Answer 1

9514 1404 393

Answer:

$98.15

Explanation:

2005 is 15 years after 1990. Using the formula we find ...

c(15) = 63·1.03^15 ≈ 63·1.55797

c(15) ≈ 98.152

An ounce of the chemical costs about $98.15 in 2005.