Question:
The equation C(T) = LaTeX: 30000\cdot1.04^T
30000
⋅
1.04
T
represents the cost of tuition, in dollars, as a function of T, the number of years since 2012. Explain what the 30,000 and 1.04 tell us about this situation.
What is the percent increase in tuition from year to year?
What does C(3) mean in this situation? Find its value and show your reasoning.
a. Write an expression to represent the cost of tuition in 2007.
b. How much did tuition cost that year?
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Answers
B I will probably be b
D) exponential growth function
Step-by-step explanation:
D) Exponential Growth Function
Step-by-step explanation:
This is because in a linear equation, there is a constant 'slope' of how something increases like a specific amount but in this equation, the growth is by a specific percentage which allows for a difference in the amount each year. For example, a linear function would be if it increased by four dollars every year, so 2, 4, 6, 8,etc. But a exponential function would be like if it increased by for percent each year, so 2, 2.16, 2.25, 2.34, etc.
Step-by-step explanation:
Percentage increase = increase/original price × 100/1
Increase = final price - initial price
In this case of 2012 - 2013
Initial price = $30, 000
Final price = $31, 200
Increase = $31, 200 - $30, 000
= $1200
% increase = $1200/$30000 × 100/1
= 0.04×100
= 4%
For the year 2013-2014
Initial price = $31, 200
Final price = $32,448
Increase = $32,448-$31, 200
= $1248
% increase = $1248/$31,200 ×100/1
= 0.04×100/1
= 4%
Hence,the percentage increase in tuition year will be at the rate of 4%