type the correct answer in the box. in 1979, the price of electricity was $0.05 per kilowatt - hour. the…
type the correct answer in the box. in 1979, the price of electricity was $0.05 per kilowatt - hour. the price of electricity has increased at a rate of approximately 2.05% annually. if t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt - hour to reach $0.10. fill in the values of a, b, and c for this situation. do not include dollar signs in the response. c = a(b)^t
Answer
Explanation:
Step1: Identify the initial - value
The initial price of electricity in 1979 is $0.05$, so $A = 0.05$.
Step2: Identify the growth - factor
The price increases at a rate of $2.05%$ or $0.0205$ annually. The growth factor $b=1 + 0.0205=1.0205$.
Step3: Identify the final - value
The final price we want to reach is $0.10$, so $c = 0.10$.
Answer:
$A = 0.05$, $b = 1.0205$, $c = 0.10$