Posted by Ashley on .
a) The annual inflation rate is 3.5% per year. If a movie ticket costs $7.50, find a formula for p, the price of the tickets t years from today, assuming that movie tickets keep up with inflation.
b) According to your formula, how much will movie tickets cost in 20 years?
p(t) = 7.50 * 1.035^t
p(20) = 14.92