Question

I just need help with part b can you help me please

Answer 1

b) Recall that to evaluate a function at a given value, we substitute the variable by the given value.

Evaluating P(t) at t=2007-1992=15 we get:

`P(15)=29000(1.06)^(15).`

Simplifying the above result we get:

`P(15)\approx69500.`

Answer: $69,500.