document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=981081>Question 981081</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #602114 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=602114\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  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.<BR>\n" );
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document.write( "Start:: 1500<BR>\n" );
document.write( "After 1 year:: 1500 + 1500*0.03 = 1500*1.03<BR>\n" );
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document.write( "After 2 years:: 1500*1.03 + 1500*1.03*0.03 = 1500*1.03^2<BR>\n" );
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document.write( "After 3 years:: 1500*1.03^3 = 1639.09<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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