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The rate of inflation is 3%. The cost of an item in future years can be found by iterating the function c(x) = 1.03x. Find the cost of a $1500 refigerator in three years if the rate of inflation remains consistant.

Respuesta :

Bobersej
This is an expontential growth, which is a growth based on f(x) = b*a^x 
b = 1500
a = 1.03
x = 3

f(3)=1500*1.03^3 = 1639.10$

After three years the fridge would cost 1639.1$.

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