Assuming that the rate of inflation is 4% per year, the equation P = P0(1.04)t y
ID: 3032870 • Letter: A
Question
Assuming that the rate of inflation is 4% per year, the equation P = P0(1.04)t yields the predicted price P, in t years, of an item that presently costs P0. Find the predicted price of each of the following items for the indicated years ahead. (a) $1.48 can of soup in 3 years (Round your answer to the nearest cent.) $(b) $3.43 container of cocoa mix in 5 years (Round your answer to the nearest cent.) $
(c) $1.95 jar of coffee creamer in 4 years (Round your answer to the nearest cent.) $
(d) $1.55 can of beans and bacon in 10 years (Round your answer to the nearest cent.) $
(e) $16,000 car in 5 years (Round your answer to the nearest dollar.) $
(f) $175,000 house in 8 years (Round your answer to the nearest dollar.) $
(g) $490 TV set in 7 years (Round your answer to the nearest dollar.) $
Assuming that the rate of inflation is 4% per year, the equation P = P0(1.04)t yields the predicted price P, in t years, of an item that presently costs P0. Find the predicted price of each of the following items for the indicated years ahead. (a) $1.48 can of soup in 3 years (Round your answer to the nearest cent.) $
(b) $3.43 container of cocoa mix in 5 years (Round your answer to the nearest cent.) $
(c) $1.95 jar of coffee creamer in 4 years (Round your answer to the nearest cent.) $
(d) $1.55 can of beans and bacon in 10 years (Round your answer to the nearest cent.) $
(e) $16,000 car in 5 years (Round your answer to the nearest dollar.) $
(f) $175,000 house in 8 years (Round your answer to the nearest dollar.) $
(g) $490 TV set in 7 years (Round your answer to the nearest dollar.) $
Assuming that the rate of inflation is 4% per year, the equation P = P0(1.04)t yields the predicted price P, in t years, of an item that presently costs P0. Find the predicted price of each of the following items for the indicated years ahead. (a) $1.48 can of soup in 3 years (Round your answer to the nearest cent.) $
(b) $3.43 container of cocoa mix in 5 years (Round your answer to the nearest cent.) $
(c) $1.95 jar of coffee creamer in 4 years (Round your answer to the nearest cent.) $
(d) $1.55 can of beans and bacon in 10 years (Round your answer to the nearest cent.) $
(e) $16,000 car in 5 years (Round your answer to the nearest dollar.) $
(f) $175,000 house in 8 years (Round your answer to the nearest dollar.) $
(g) $490 TV set in 7 years (Round your answer to the nearest dollar.) $
Explanation / Answer
PS:- Please note that at chegg we are bound to answer 4 sub parts of any question asked. Thank you !!
Dear Student Thank you for using Chegg !! Given Predictive Price Function P = P0(1.04)^t a) $1.48 can of soup in 3 years P = 1.48*(1.04)^3 = 1.66479872 $ Solution b) $3.43 container of cocoa mix in 5 years P = 3.43*(1.04)^5 = 4.173119455 $ Solution c) $1.95 jar of coffee creamer in 4 years P = 1.95*(1.04)^4 = 2.281224192 $ Solution d) $1.55 can of beans and bacon in 10 years P = 1.55*(1.04)^10 = 2.294378642 $ Solution