document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1047837>Question 1047837</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If the rate of inflation is <BR>\n" );
document.write( "3.4%<BR>\n" );
document.write( " per year, the future price <BR>\n" );
document.write( "pt<BR>\n" );
document.write( " (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today.<BR>\n" );
document.write( "=p(t)3000(1.034)<BR>\n" );
document.write( "Find the current price of the item and the price 9 years from today. <BR>\n" );
document.write( "Round your answers to the nearest dollar as necessary. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #663415 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=663415\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> f the rate of inflation is 3.4% per year, the future price <BR>\n" );
document.write( "p(t) (in dollars) of a certain item can be modeled by the following exponential  function, where t is the number of years from today.<BR>\n" );
document.write( "p(t) = 3000(1.034)^t<BR>\n" );
document.write( "Find the current price of the item and the price 9 years from today.<BR>\n" );
document.write( "----<BR>\n" );
document.write( "Current price = p(0) = $3000<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "p(9) = 3000*1.034^9 = $4053.28<BR>\n" );
document.write( "--------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "---------------  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );