Question: With a yearly inflation rate of 3%, prices are described by \(P\left( t \right)=P\cdot {{1.03}^{t}}\), where P is the price of dollars when t = 0 and t is time in years.
For each of the following determine the price at t = 15.
For each of the following, use the derivative to determine the price increase at t = 15

(a) a loaf of bread that now costs $3.10.
(b) a pen that now costs $4.20.
(c) a textbook that now costs $128.75.
(d) a new car that now costs $23,556.
(e) a new home that now costs $545,680.
(f) one gallon of supreme gasoline that now costs $3.12.

Price: $2.99

Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document