c = A(b)^t
Given:
c = 0.10 (the desired price per kilowatt-hour)
A = 0.05 (the initial price per kilowatt-hour in 1979)
b = 1 + 2.05/100 = 1.0205 (the annual rate of increase as a decimal)
The equation to determine the number of years it will take for the price per kilowatt-hour to reach $0.10 is:
0.10 = 0.05(1.0205)^t
Type the correct answer in the box.
In 1979, the price of electricity was $0.05 per kilowatt-hour. The price of electricity has increased at a rate of approximately 2.05% annually. If t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt-hour to reach $0.10. Fill in the values of A, b, and c for this situation. Do not include dollar signs in the response. Use the form c = A(b)^t
1 answer