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

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Definitions:

Sec-Butanol

A secondary alcohol with the chemical formula C4H10O, where the hydroxyl group is connected to the second carbon in a butane chain.

Sulfuric Acid

A highly corrosive strong mineral acid with the molecular formula H2SO4, widely used in industry for processes including fertilizer manufacturing, oil refining, and wastewater processing.

Major Organic Product

The main product formed in the highest yield in an organic chemical reaction, as opposed to minor products that are formed in smaller amounts.

Autooxidation

A process where substances undergo oxidation in the presence of oxygen at room temperature, typically leading to degradation or spoilage.