Question: The function C(t)=C 0 (1+r)^t models the rise in the cost of a product that has a cost of C 0 today, subject to an

The function C(t)=C0(1+r)^t models the rise in the cost of a product that has a cost of C0 today, subject to an average yearly inflation rate of r for t years. If the average annual rate of inflation over the next 9 years is assumed to be 1.5%, what will the inflation-adjusted cost of a $31,500 motorcycle be in 9 years? Round to two decimal places.

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