$\text { If the annual rate of inflation averages } 8 \% \text { over the next } 10 \text { years, the approximate }$

question 55

Multiple Choice

$\text { If the annual rate of inflation averages } 8 \% \text { over the next } 10 \text { years, the approximate }$ cost $C$ of goods or services during any year in that decade is $C ( t ) = P ( 1.08 ) ^ { t }$ where $t$ is the time in years and $P$ is the present cost. The price of an oil change for your car is presently $\$ 23.65$ . Find the rate of change of $C$ with respect to $t$ when $t = 3$ . Round your answer to three decimal places.

• A) \(32.176\) dollars per year
• B) \(1.966\) dollars per year
• C) \(2.293\) dollars per year
• D) \(5.962\) dollars per year
• E) \(32.730\) dollars per year

---

Definitions:

Social Obligations

Duties or responsibilities that individuals are expected to fulfill in their interactions with other members of society.

Mores

Deeply ingrained cultural norms or moral views that dictate what is considered right and wrong within a society.

Convention

A gathering or assembly of individuals with common interests, often for the purpose of discussion, networking, or promoting ideas and practices within a specific field.

Uncertainty Avoidance

A cultural dimension that describes the extent to which people in a society are uncomfortable with ambiguity, uncertainty, and unstructured situations, influencing their behavior and decision-making.