SOLUTION: The function C(t)=C0(1+r)t models the rise in the cost of a product that has a cost of C0 today, subject to an average yearly inflation rate of r for t years. If the average annua

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Question 1198082: The function C(t)=C0(1+r)t models the rise in the cost of a product that has a cost of C0 today, subject to an average yearly inflation rate of r for t years. If the average annual rate of inflation over the next 8 years is assumed to be 1.5%, what will the inflation-adjusted cost of a $356 airline ticket be in 8 years? Round to two decimal places.
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.

It will be

    356%2A%281%2B0.015%29%5E8 = 356%2A1.015%5E8 = 401.03 dollars.    ANSWER

Solved.