You are planning on purchasing a new car and have your eye on a specific model. You know that new car prices are
projected to increase at a rate of 5% per year for the next few years.
Find the cost of the car 3 years from now if the current price is $26,000. Write the equation that represents the projected cost
C and provide a solution for the problem.
a. C = 26,000(1.05)(3)
C. C = 26,000(3) 105
$81,900
$82,404.45
b. C= 26,000(1.05)3
d. c26,000(3)
$30,098.25
1.05
$74,285.71