SOLUTION: Dinner at your grandfather's favorite restaurant now costs $25.25 and has been increasing at 4% each year. How much did it cost him 35 years ago?

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Question 1174207: Dinner at your grandfather's favorite restaurant now costs $25.25 and has been increasing at 4% each year. How much did it cost him 35 years ago?
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.

Let x be the unknown value under the problem's question.  Then


    25.25 = x%2A%281%2B0.04%29%5E35 = x%2A1.04%5E35.


Hence,  x = 25.25%2F1.04%5E35 = 6.40  dollars   (rounded).    ANSWER

Solved.