Algebra 2 (1st Edition)

Published by McDougal Littell
ISBN 10: 0618595414
ISBN 13: 978-0-61859-541-9

Chapter 7 Exponential and Logarithmic Functions - 7.1 Graph Exponential Growth Functions - 7.1 Exercises - Problem Solving - Page 485: 44a



Work Step by Step

Let $x$ be the number of years passed since the cost yearly was $5200$. Then our initial amount is $5200$, and the percent increase is: $r$. Then the cost after five years is: $5200(1+r)^5=9000\\(1+r)^5=\frac{9000}{5200}=\frac{45}{26}\\1+r=\sqrt[5] {\frac{45}{26}}\\r=\sqrt[5] {\frac{45}{26}}-1\approx0.116=11.6\%$
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