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In 2010 an item cost $9.00. The price increase by 1.5% each
year.
Write an exponential growth function to represent this
situation:

Respuesta :

Answer:

Step-by-step explanation:

Let P be price after t year . From the formula of compounding

P = 9 [tex](1.015)^t[/tex]

Taking log to the base e on both sides

ln P = ln 9 + t ln 1.015

= (2.197 + .0149t )

P = [tex]e^{(2.197+.0149t)}[/tex]

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