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Question
The monthly Medicare Part B healthcare premium for most beneficiaries ages and older has increased significantly since 1975. The monthly premium has increased from about in 1975 to in 2011. The following exponential function models the premium increases:
where is the number of years since 1975. Estimate the monthly Medicare Part B premium in 1985, 1992, and 2002. Round to the nearest dollar.
Solution
VerifiedAnswered 1 year ago
Answered 1 year ago
Step 1
1 of 2By substituting in the function
, for the values , and , respectively, where represents the number of years since , the following is true:
Therefore, the monthly Medicare Part B premium in was , in was , and in was .
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