Find each of the following, to four decimal places, using a calculator.e4
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Textbook Solutions for College Algebra: Graphs and Models
Question
Medicare Premiums. The monthly Medicare Part B health-care premium for most benefi- ciaries ages 65 and older has increased signifi- cantly since 1975. The monthly premium has increased from about $7 in 1975 to $110.50 in 2011 (Source: Centers for Medicare and Medicaid Services). The following exponential function models the premium increases: M1x2 = 711.0802x , where x is the number of years since 1975. Estimate the monthly Medicare Part B premium in 1985, in 1992, and in 2002. Round to the nearest dollar.
Solution
The first step in solving 5.2 problem number 66 trying to solve the problem we have to refer to the textbook question: Medicare Premiums. The monthly Medicare Part B health-care premium for most benefi- ciaries ages 65 and older has increased signifi- cantly since 1975. The monthly premium has increased from about $7 in 1975 to $110.50 in 2011 (Source: Centers for Medicare and Medicaid Services). The following exponential function models the premium increases: M1x2 = 711.0802x , where x is the number of years since 1975. Estimate the monthly Medicare Part B premium in 1985, in 1992, and in 2002. Round to the nearest dollar.
From the textbook chapter Exponential Functions and Graphs you will find a few key concepts needed to solve this.
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