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The price in dollars of a house during a period of mild inflation is described by the formula P(t) =92000e^(0.03t), where t is the number of years after 1990. Answer the following questions:
A. The value of the house in the year 2000 will be _____ dollars. (Round your answer to the nearest dollar.)
B. In the year 2000 the value will be increasing at a rate of _____ dollars per year. (Round your answer to the nearest dollar.)
C. How long will it take for a house to double in value? Answer: ____ years. (Round your answer to two decimal places.)
The price in dollars of a house during a period of mild inflation is described by the formula P(t) =92000e^(0.03t), where t is the number of years after 1990. Answer the following questions:
A. The value of the house in the year 2000 will be _____ dollars. (Round your answer to the nearest dollar.)
B. In the year 2000 the value will be increasing at a rate of _____ dollars per year. (Round your answer to the nearest dollar.)
C. How long will it take for a house to double in value? Answer: ____ years. (Round your answer to two decimal places.)
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