SOLUTION: If the annual rate of inflation averages 5% over the next 10 years, then the approximate cost C of goods and services during any year in that decade will be given by C(t)=P(1.05)^t

Question 1073661: If the annual rate of inflation averages 5% over the next 10 years, then the approximate cost C of goods and services during any year in that decade will be given by C(t)=P(1.05)^t where t is the time in years and P is the present cost. If the price of Brett's perfect pizza is 7.99, how much will is cost 9 years from now?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Brett's perfect pizza is now $7.99. In 9 years, with 5% inflation, in will cost
7.99 x (1.05)^9=7.99 x 1.551328215978515625;
=$12.39511244566833984375; or $12.40 in 9 years. ☺☺☺☺
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