Using Social Security Administration data for selected years from 2012 and projected to 2050, the U.S. consumer price index (CPI) can be modeled by the function

C(t) = 92.7e^0.0271t

where t is the number of years past 2010 and C(t) is in 2012 dollars. With the data’s reference year as 2012, a 2018 CPI of 115.14 means that goods and services costing $100.00 in 2012 are expected to cost $115.14 in 2018.

(a) Find C(15) and explain its meaning.

(b) Graph the model.