Question

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Barnaby’s grandfather is always complaining that back when he was a teenager, he used to be able to buy his girlfriend dinner for only $1.50.
a.) If that same dinner that Barnaby’s grandfather purchased for $1.50 sixty years ago now costs $25.25 , and the price has increased exponentially, write an equation that will give you the costs at different times.
b.)How much would you expect the same dinner to cost in 60 years?

Answer 1

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Answer 2

An equation that will give you the costs at different times is y = $1.048^{t}$.

The price of the dinner in 60 years will be $425.04.

What is the equation that represents the cost of the dinner?

An exponential function is usually in the form: $ab^{x}$.

Where:

• a = initial value
• b = rate of growth
• x = number of years

Rate of increase = (cost of the meal now / cost of the meal 60 years ago)^(1 / number of years)

(25.25 / $1.50) ^(1/60) = 4.8%

y = $1.048^{t}$.

What will be the cost of the meal in 60 years?

25.25 x 1.048^60 = $425.04

To learn more about exponential functions, please check: https://brainly.com/question/26331578

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