percentagesss?

(a) The annual inflation rate is 2.5 % per year. If a movie ticket costs $10.90, find a formula for p, the price of the ticket t years from today, assuming that movie tickets keep up with inflation.

P=

(b) According to the formula from (a), how much will movie tickets cost in 13 years?

Round your answer to two decimal places.

In 13 years, a movie ticket will cost $ ____?

1 Answer

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  • 4 weeks ago

    p=10.90 * 1.025**t

    for t=13

    p=10.9 * 1.025**t = 10.9 * 1.38 = $15.04

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