Question

The equation, y = 12841(1.01)x , represents the average cost of an education at a private college, after 1990. What is the average cost in 1990 (x = 0)?

A. $12,969
B. $12,841
C. $13,122
D. $13,099

Answer 1

The average cost in 1990 is $12,841.

Answer 2

Answer:

Option B is correct.

the average cost in 1990 is, $12,841

Step-by-step explanation:

Given the equation :

$y = 12841(1.01)^x$          ....[1]

where y represents the he average cost of an education at a private college after 1990 and x be the time in years.

We have to find the average cost in 1990.

⇒$x = 0$

Substitute in [1] we have;

$y = 12841(1.01)^0$

Simplify:

$y =\ 12,841$

Therefore, the average cost in 1990 is, $12,841