how about some numbers?
Knowing P1 and P2, you need to find r such that
P1(1+r)^60 = P2
Barnaby’s grandfather is always complaining that back when he was a teenager, he used to be able to buy his girlfriend dinner for only.
A. If that same dinner that Barnaby’s grandfather purchased for
sixty years ago now costs
, and the price has increased exponentially, write an equation that will give you the costs at different times.
B.How much would you expect the same dinner to cost in 60 years?
3 answers
(current price) = (old price) * [1 + (annual increase)]^(years)
B. (future price) = (current price) * [1 + (annual increase)]^(years)
annual increase is the percentage , entered as a decimal
B. (future price) = (current price) * [1 + (annual increase)]^(years)
annual increase is the percentage , entered as a decimal
B: = $425.04
1 answer