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Question
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 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
Answer
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