Question

In 1979, the price of electricity was $0.05 per kilowatt-hour. The price of electricity has increased at a rate of approximately 2.05% annually. If t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt-hour to reach $0.10. Fill in the values of A, b, and c for this situation. Do not include dollar signs in the response.
c=A(b)^x

Answer 1

The equation that can be used to determine the number of years it would take for the price to be $0.10 is 0.10 = 0.05(1.0205)^t.

What is the equation that models the increase?

The equation that would be used is an exponential equation. An exponential equation is used because the rate of increase is a compound growth.

Exponential equations usually have this form: FV = PV( 1 + r)^t

Where:

• FV = future value
• PV = present value
• r = rate of growth
• t = time

0.10 = 0.05(1.0205)^t.

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

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