SOLUTION: Please help me solve this word problem: In 1996, the cost of a specific product is 72.95. In 2001, it costs 98.70. How much will it cost in 2010? I have to write a linear equation

Question 580726: Please help me solve this word problem: In 1996, the cost of a specific product is 72.95. In 2001, it costs 98.70. How much will it cost in 2010? I have to write a linear equation to model the situation and then use it to answer the questions.
The problem Im having is just setting up the equation right.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Please help me solve this word problem: In 1996, the cost of a specific product is 72.95. In 2001, it costs 98.70. How much will it cost in 2010? I have to write a linear equation to model the situation and then use it to answer the questions.
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Let 1996 correspond to x = 0
Then 2001 corresponds to x = 5
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You have 2 points (0,72.95) and (5,98.70)
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slope = (98.7-72.95)/(5) = 5.15
intercept = f(0) = 72.95
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Equation Form: y = mx + b
y = 5.15x + 72.95 where x is the number of years beyond 1996
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Cheers,
Stan H.
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