With an Annual Rate of Inflation of 4% Over the Next

question 15

Multiple Choice

With an annual rate of inflation of 4% over the next 10 years, the approximate cost of goods or services during any year in the decade is given by $C ( t ) = P ( 1.04 ) ^ { t } , 0 \leq t \leq 10$ where is the time (in years) and is the present cost. The price of an oil change for a car is presently $24.95.Estimate the price 10 years from now.

• A)$37.09
• B)$36.93
• C)$89.00
• D)$63.90

---

Definitions:

Behaviors

The actions, reactions, or conduct of an individual, group, or system, often analyzed in psychological or sociological contexts.

Cooperation

The action or process of working together to the same end, often by sharing knowledge or tasks.

Persuasion

Persuading an individual to adopt a belief or take an action based on logical argumentation or discourse.

Rhetorical

Pertaining to the art of effective or persuasive speaking or writing, especially the use of figures of speech and other compositional techniques.