Suppose That the Annual Rate of Inflation Averages 4% Over

question 44

Multiple Choice

Suppose that the annual rate of inflation averages 4% over the next 10 years.With this rate of inflation,the approximate cost C of goods or services during any year in that decade will be given by , where t is time in years and P is the present cost.If the price of an oil change for your car is presently $25.95,estimate the price 10 years from now.Round your answer to two decimal places.

• A) $39.95
• B) $40.41
• C) $41.95
• D) $43.41
• E) $38.41

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