Inflation Inflation erodes our purchasing power. Becau of inflation, we will pay
ID: 3029886 • Letter: I
Question
Inflation Inflation erodes our purchasing power. Becau of inflation, we will pay more for the same goods in the fu. ture than we pay for them today. The function C 0.31t? 0.59t 9.61, where t is years since 1997, approximates the cost, in thousands of dollars, for purchas ing in the future what $10,000 would purchase in 1997. This function is based on a 6% annual inflation rate and 0 s t s 25. Estimate the cost in 2012 for goods that cost $10,000 in 1997. Drug-Free Schools The function f(a) 2.32a 76.85a 559.87 can be used to estimate the percent of stu- dents who say their school is not drug free. In this function, a represents the student's age, where 12 s a s 17. Use this function to estimate the percent of 13-year-olds who say their school is not drug free.Explanation / Answer
Inflation:
C(t) = 0.31*t^2 + 0.59*t + 9.61
year 2012 means t = 2012-1997 = 15
put t=15
C(15) = 0.31*(15)^2 + 0.59*15 +9.61
= $88.21 thousand
= $88210
Answer: $88210
Drug free :
f(a) = -2.32*a^2 + 76.85*a -559.87
put a=13
f(13) = -2.32*(13)^2 + 76.85*13 -559.87
= 47.1
Answer: 47.1 %