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

question 13

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 where t is the time (in years) and P is the present cost.The price of an oil change for a car is presently $24.95.Estimate the price 10 years from now.Round your answer to the nearest cent.

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

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