cesarkapalot cesarkapalot

09-12-2020
Mathematics

contestada

in 2010 an item cost $200. The price increase by 1.5% each year. How much wil it cost in 2030?
Round
your
answer to the nearest cent.

Respuesta :

KristianM408 KristianM408

09-12-2020

Step-by-step explanation:

Let P be price after t year . From the formula of compounding

P = 9 (1.015)^t

Taking log to the base e on both sides

ln P = ln 9 + t ln 1.015

= (2.197 + .0149t )

P = e^{(2.197+.0149t)}

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