Inflation Rate Suppose that the annual rate of inflation averages 4% over the next 10
Chapter 4, Problem 35(choose chapter or problem)
Inflation Rate Suppose that the annual rate of inflation averages 4% over the next 10 years. With this rate of inflation, the approximate cost C of goods or services during any year in that decade will be given bywhere t is time in years and P is the present cost. If the price of an oil change for your car is presently $24.95, estimate the price 10 years from now.
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