Mathematics, 03.07.2020 22:01 Athenax

The price of products may increase due to inflation and decrease due to depreciation. Marco is studying the change in the price of two products, A and B, over time. The price f(x), in dollars, of product A after x years is represented by the function below: f(x) = 0.69(1.03)x Part A: Is the price of product A increasing or decreasing and by what percentage per year? Justify your answer. (5 points) Part B: The table below shows the price f(t), in dollars, of product B after t years: t (number of years) 1 2 3 4 f(t) (price in dollars) 10,100 10,201 10,303.01 10,406.04 Which product recorded a greater percentage change in price over the previous year? Justify your answer. (5 points)

Answers: 3

Show answers

Answers

Answer from: uc22912

Product A has a greater percentage change in price.

Step-by-step explanation:

Part A:

The price f product A, f (x) after x years is given by:

$f(x) = 0.69\cdot(1.03)^{x}$

After x = 0 years, the price of product A is:

$f(0) = 0.69\cdot(1.03)^{0}=0.69$

After x = 1 years, the price of product A is:

$f(1) = 0.69\cdot(1.03)^{1}=0.69\cdot (1+0.03)=0.69\cdot (1+3\%)$

After 1 year, the price of product A is 3% times more than the original price.

This means that after one year, the new price is 103% of the original price, which means the price product A is increasing by 3%.

Again after x = 2 years, the price of product A is:

$f(2) = 0.69\cdot(1.03)^{2}=[0.69\cdot (1+3\%)]\times (1.03)$

This implies that after 2 years, the price of product A is 103% of the price after year 1.

This implies that the price of product A is 3% more than the previous year.

Thus, the price of product A is increasing each year by 3%.

Part B:

The data for Product B is as follows:

Time (t) Price [f (t)]

1 10,100

2 10,201

3 10,303.01

4 10,406.04

Product B is clearly increasing in price.

Consider the changes in price of Product B in the following intervals of years:

Year 1 - Year 2:

Price in year 1 = $10,100

Price in Year 2 = $10,201

Compute the increase percentage as follows:

$\text{Increase}\%=\frac{10201-10100}{10100}=0.01=1\%$

Year 2 - Year 3:

Price in Year 2 = $10,201

Price in year 3 = $10,303.01

Compute the increase percentage as follows:

$\text{Increase}\%=\frac{10303.01-10201}{10201}=0.01=1\%$

Year 3 - Year 4

Price in year 3 = $10,303.01

Price in Year 4 = $10,406.04

Compute the increase percentage as follows:

$\text{Increase}\%=\frac{10,406.04-10303.01}{10303.01}=0.09999\approx 0.01=1\%$

It is quite clear that the price of product B increases by 1% each year.

Thus, Product A has a greater percentage change in price.

Answer from: Quest

They sought new allies to germany tried to get mexico to join and put pressure on the us. the us joined the allies because of the lucitania

Answer from: Quest

answer: $201

step-by-step explanation: to get the answer, you first get 3 nieces that he sold and multiply it by 67 and get $201, so he earned $201 selling his nieces.

Another question on Mathematics

Mathematics, 21.06.2019 16:00

Asquare parking lot has 6,400 square meters what is the length in meters

Answers: 1

Answer

Mathematics, 21.06.2019 19:30

Look at this pattern ; 1,4,9, number 10000 belongs in this pattern . what’s the place of this number?

Answers: 1

Answer

Mathematics, 21.06.2019 20:00

The weight v of an object on venus varies directly with its weight e on earth. a person weighing 120 lb on earth would weigh 106 lb on venus. how much would a person weighing 150 lb on earth weigh on venus?

Answers: 1

Answer

Mathematics, 21.06.2019 22:10

Monitors manufactured by tsi electronics have life spans that have a normal distribution with a standard deviation of 1800 hours and a mean life span of 20,000 hours. if a monitor is selected at random, find the probability that the life span of the monitor will be more than 17,659 hours. round your answer to four decimal places.

Answers: 2

Answer

You know the right answer?

The price of products may increase due to inflation and decrease due to depreciation. Marco is study...

Questions