Ask Question
15 August, 07:16

The rate of inflation is 3%. The cost of an item in future years can be found by iterating the function c (x) = 1.03x. Find the cost of a $1500 refigerator in three years if the rate of inflation remains consistant.

+4
Answers (1)
  1. 15 August, 08:05
    0
    This is an expontential growth, which is a growth based on f (x) = b*a^x

    b = 1500

    a = 1.03

    x = 3

    f (3) = 1500*1.03^3 = 1639.10$

    After three years the fridge would cost 1639.1$.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The rate of inflation is 3%. The cost of an item in future years can be found by iterating the function c (x) = 1.03x. Find the cost of a ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers