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3 August, 13:50

Beverly moved into an apartment close to her new job. She will be paying $1800 per month in rent and expects a 3% rent increase each year. Express the rent y as an exponential function of the number of years rented, x.

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  1. 3 August, 14:16
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    Answer: y = 21600 (1.03) ^x

    Step-by-step explanation:

    The formula for determining exponential growth is expressed as

    A = P (1 + r) ^t

    Where

    A represents final value.

    P represents initial value.

    r represents rate of increase.

    t represents number of years

    She will be paying $1800 per month in rent. Since there are 12 months in a year, it means that the amount that she would pay in a year is

    1800 * 12 = $21600. Therefore, P = 216000

    She expects a 3% rent increase each year. This means that

    r = 3/100 = 0.03

    Therefore, the expression for the rent y as an exponential function of the number of years rented, x is

    y = 21600 (1 + 0.03) ^x

    y = 21600 (1.03) ^x
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