The average price of a two-bedroom apartment in the uptown area of a prominent American city during the real estate boom from 1994 to 2004 can be approximated by:

P(t) = 0.19e^0.10t million dollars (0 <= t <= 10)

where t is time in years ( t = 0 represents 1994). What was the average price of a two-bedroom apartment in this uptown area in 2002, and how fast was it increasing?

Answer rating: 100% (QA)

P 019 e 010t million dollar t 0 represent ... View the full answer