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September 16, 2014

September 16, 2014

Posted by **Dawn** on Monday, May 30, 2011 at 7:38pm.

1) assume that an average television costs $425 now and that the price is increasing by 2.4% each year.

A) calculate an equation relating price and time, then predict the price of a tv in 11 years.

B) when will the price. Of the tv be $2000?

Thanks!

- Math -
**Damon**, Monday, May 30, 2011 at 8:04pmprice in first year =425

price in second year = 1.024 * 425

price in third = 1.024*1.024 * 425

so

A) price in n th year = 1.024^(n-1) * 425

price in 11 th year = 1.024^10 * 425

= 538.75

B) 2000 = 425 * 1.024^(n-1)

4.70588 = 1.0124^(n-1)

log 4.70588 = (n-1) log 1.024

n-1 = 65.3

n = in the 66 th year

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