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# Math Question

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The price of the latest incredible iThing from Apple starts at \$200 when it is first released. Every year it gets better but the price goes up 8%. What is the price after 20 years?

Jun 27, 2018

#1
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These price values are in dollars:

price after  0  years   =   200

price after  1  year    =   200  +  8% of 200   =   200  +  0.08(200)  =  200(1 + 0.08)  =  200(1.08)

price after  2  years   =   200(1.08)(1.08)

price after  3  years   =   200(1.08)(1.08)(1.08)  =  200(1.08)3

price after  x  years   =   200(1.08)x

price after  20  years  =  200(1.08)20   ≈   932.19

The price after 20 years is about  \$932.19 .

Jun 27, 2018

#1
+2

These price values are in dollars:

price after  0  years   =   200

price after  1  year    =   200  +  8% of 200   =   200  +  0.08(200)  =  200(1 + 0.08)  =  200(1.08)

price after  2  years   =   200(1.08)(1.08)

price after  3  years   =   200(1.08)(1.08)(1.08)  =  200(1.08)3

price after  x  years   =   200(1.08)x

price after  20  years  =  200(1.08)20   ≈   932.19

The price after 20 years is about  \$932.19 .

hectictar Jun 27, 2018
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