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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? 

Guest Jun 27, 2018

Best Answer 

 #1
avatar+7155 
+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
 #1
avatar+7155 
+2
Best Answer

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
 #2
avatar
0

Sorry about that!.

Guest Jun 27, 2018
edited by Guest  Jun 27, 2018

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