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(Solved): With an annual rate of inflation of 1.5% over the next 10 years, the approximate cost C of goods or ...



With an annual rate of inflation of 1.5% over the next 10 years, the approximate cost C of goods or services during any year in the decade is given by

C(t) = P(1.015)t, 0 ? t ? 10

where t is time (in years) and P is the present cost. The price of an oil change for a car is presently $23.45. Estimate the price 10 years from now. (Round your answer to two decimal places.)

$ _______



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