The average price in dollars to rent a studio in Back Bay, Boston, Ma. can be approximated by the equation p=30.2t +
587,where t is the number of years since 1990. Solve this equation for t and use the new equation to determine approximately what year it will be when the average price of a studio in this city reaches $1432.60.
30.2 t + 587 = 1432.6 Subtract 587 to both sides
30.2 t + 587 - 587 = 1432.6 - 587
30.2 t = 845.6 Divide both sides by 30.2
t = 845.6 / 30.2
t = 28
1990 + 28 = 2018
I appreciate your help Bosnian, Thanks.
To solve the equation p = 30.2t + 587 for t, we need to isolate the variable t.
Given that p = 1432.60, we can substitute this value into the equation:
1432.60 = 30.2t + 587
Now, we will solve for t:
1432.60 - 587 = 30.2t
845.60 = 30.2t
To find the value of t, we divide both sides of the equation by 30.2:
t = 845.60 / 30.2
t ≈ 28
Now that we have the value of t, which represents the number of years since 1990, we can determine the approximate year when the average price of a studio in Back Bay, Boston reaches $1432.60.
To do this, we add the value of t to the base year, 1990:
1990 + 28 = 2018
Therefore, it will be approximately the year 2018 when the average price of a studio in Back Bay, Boston reaches $1432.60.