Inflation When the annual rate of inflation averages 5% over the next 10 years, the approximate cost

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Inflation When the annual rate of inflation averages 5% over the next 10 years, the approximate cost C of goods or services during any year in that decade is

where t is the time in years and P is the present cost.

(a) The price of an oil change for your car is presently $24.95. Estimate the price 10 years from now.

(b) Find the rates of change of C with respect to t when t = 1 and t = 8.

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Calculus

ISBN: 9781285057095

10th Edition

Authors: Ron Larson, Bruce H. Edwards

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Question Posted: Feb 28, 2023 01:51 AM

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Inflation When the annual rate of inflation averages 5% over the next 10 years, the approximate cost

Question:

C(t) = P(1.05)'

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Calculus

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