The table below shows the average cost C, in dollars, of chemistry and physics periodicals t years after 1980.
t = years since 1980 C = cost in dollars
0 140
5 250
10 410
15 780
20 1300
22 1520
What was the yearly percentage growth rate of the cost of chemistry and physics periodicals? (Use the model found in part (a). Round your answer to one decimal place.)
If this exponential trend continues, what will be the expected average cost of physics and chemistry periodicals in 2014? Round your answer to the nearest dollar. (Use the model found in part (a).)
The table below shows the average cost C, in dollars, of chemistry and physics periodicals t years after 1980.
t = years since 1980 C = cost in dollars
0 140
5 250 12.30% average annual increase for 5 years.
10 410 10.40% '''''''''''''''''''''''''''''''''''''''''''''''''''''' for the following 5 years.
15 780 13.73%'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
20 1300 10.76%''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
22 1520 8.13%''''''''''''''''''''''''''''''''''''''''''''''''''''''''''for the last 2 years.
What was the yearly percentage growth rate of the cost of chemistry and physics periodicals? (Use the model found in part (a). Round your answer to one decimal place.)
If this exponential trend continues, what will be the expected average cost of physics and chemistry periodicals in 2014? Round your answer to the nearest dollar. (Use the model found in part (a).)
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So that the average increase for the 22 years is: 11.45%. Using this rate, the expected cost in 2014, which would be 12 years from 2002, would be: 1.1145^12 X 1520=$5,582(rounded).
