Question

QUESTION 20 Exponential growth/decay applications. (5 points) For each of these problems, clearly type the function that models this problem, identify the letters used as variables and what these variables mean in the context of the problem, and then answer the additional questions using your modeling function. The average price of a gallon of milk was $1.70 in 2010. Because of inflation, the price has increased continuously at a rate of 4%. Modeling function: Variables: and In what year will the average price of a gallon of milk be above $5.00 for the first time? with your calculator)

          QUESTION 20
Exponential growth/decay applications. (5 points)
For each of these problems, clearly type the function that models this
problem, identify the letters used as variables and what these variables
mean in the context of the problem, and then answer the additional
questions using your modeling function.
The average price of a gallon of milk was $1.70 in 2010. Because of
inflation, the price has increased continuously at a rate of 4%.
Modeling function:
Variables:
and
In what year will the average price of a gallon of milk be above
$5.00 for the first time?
with your calculator)

Added by Erika M.

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