Suppose the annual rate of inflation is about 4% this means that the cost of an item increases by about 4%. write and evaluate an exponential expression to find the answer to this question ... if a piano costs $3,500 today, what did it cost 4 years ago?

Question

Rex Payne

4 October, 20:44

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Answers (1)

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Valentin Glover · Answer 1

Cost = (3,500) * (1.04) ^years

Cost = (3,500) * (1.04) ^4

Cost = (3,500) * 1.16985856

Cost = 4,094.50