The price of products may increase due to inflation and decrease due to depreciation. David is studying the change in the price of two products, A and B, over time.
The price f(x) in dollars, of product A after x years is represented by the function below. f(x)=0.69(1.03)^x
1.Is the graph decreasing or increasing?
My answer: increasing
2. Why?
my answer: because it starts with -2 and goes to +2
Part 2 The table below shows the price f(t), in dollars, of product B after t years
T years - 1,2,3,4
f(t) Price - 10,100, 10,201, 10,303.01, 10,406.04
3. What is the average rate of change from year 1 to 2?
My answer: It went up by 101
4. Convert this to a %
my answer: .99%
5. which has the greater % change in price?
My answer: Prduct A
Am i close? im stuck on the conversion (#3)
You are close! Let me help you with the conversion for question 3.
To calculate the average rate of change, we need to find the difference in the price of product B from year 1 to year 2.
The price increased from $10 to $100, which is a difference of $100 - $10 = $90.
To convert this difference to a percentage, you can use the following formula:
Percentage change = (Difference / Initial value) * 100
In this case, the initial value is $10 and the difference is $90. Plugging those values into the formula, we get:
Percentage change = (90 / 10) * 100 = 900%.
Therefore, the correct answer for question 4 is 900%, not 0.99%.
As for question 5, you correctly identified that product A has a greater percentage change in price, as the value of the exponent in its exponential function grows over time, leading to a larger increase.