Michael is tracking the entry fee for a certain exhibition. The entry fee when he first visited the exhibition was 45.35. He observed that the entry fee increases each year at a rate of 11%. Which function represents the entry fee charged after t years?

Solución

M i c ha e l i s t r a c kin g t h e e n t ry f ee f or a cer t ain e x hibi t i o n . T h e e n t ry f ee w h e n h e f i rs t v i s i t e d t h e e x hibi t i o n w a s 45.35. He o b ser v e d t ha t t h e e n t ry f ee in cre a ses e a c h ye a r a t a r a t e o f 11%. Whi c h f u n c t i o n re p rese n t s t h e e n t ry f ee c ha r g e d a f t er t ye a rs ?

Amount before addition : 40.85585 \dots

Pasos de solución

Translate the problem into an equation:

45.35 = x + 0.11 x

45.35 = x + 0.11 x : x = \frac{4535}{111}

\frac{4535}{111} = 40.85585 \dots

Amount before addition : 40.85585 \dots