160k views
1 vote
The function c(t) = c(1+r)t models the rise in the cost

The function c(t) = c(1+r)t models the rise in the cost-example-1

1 Answer

3 votes

Step-by-step explanation

In the question, we are given that;


\begin{gathered} C=\text{ \$34,000} \\ t=10years \\ r=3\text{\%} \\ \end{gathered}

We can therefore find the value of C(10) using the given model.


\begin{gathered} C(t)=C(1+r)^t \\ C(10)=34000(1+(3)/(100))^(10) \\ C(10)=34000\left((103)/(100)\right)^(10) \\ C(10)=45693.16 \end{gathered}

Answer:$45693.16

User Eduardo Bergel
by
7.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories