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QUESTION
If the rate of inflation is 3.9% per year, the future price pt (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today. =pt800
If the rate of inflation is
3.9%
per year, the future price
pt
(in dollars) of a certain item can be modeled by the following exponential function, where
t
is the number of years from today.
=pt8001.039t
Find the current price of the item and the price
9
years from today.
Round your answers to the nearest dollar as necessary.
