Question

The cost of an amusement park ticket has been increasing by the same percentage since 2000.

a. The equation c(t)=80(1.03)^t represents the cost of a ticket in dollars as a function of tea the number of years since 2000 explain what the 80 and 1.03 tells us about the situation
b. what is the percent increase in to get prize from year to year?
what does c(5) mean in the situation? find its value and show your reasoning

Answer 1

a. 80 tells you the ticket price in the year 2000, 1.03 tells you that the ticket price increases by 3% every year

b. c(5) means what the cost of the ticket in 2005 is, it’s value is 92.74 because 80(1.03)^5 is 92.74