Question

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

Answer 1

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