CL 6-153 In 2012 the average cost for a new midsized car was about
$31,000. New car prices tend to go up about 2% every year.
a. What is the multiplier for this situation?
b. If this trend continues, what will the cost be in 4 years?
c. Write an equation to calculate the cost in n years. What does
each of the factors in your equation represent?

A) The multiplier for this situation is 0.02.

B) The cost in 4 years will be $ 33,555.39.

C) 31,000 x 1.02 ^ N = X

Step-by-step explanation:

Since in 2012 the average cost for a new midsized car was about $ 31,000, and new car prices tend to go up about 2% every year, to determine what is the multiplier for this situation, what will the cost be in 4 years if this trend continues and to write an equation to calculate the cost in n years the following calculations must be performed:

A)

31,000 x 2/100 = X

31,000 x 0.02 = X

Thus, the multiplier for this situation is 0.02.

B)

31,000 x 1.02 ^ 4 = X

33,555.39 = X

Thus, the cost in 4 years will be $ 33,555.39.

C)

31,000 x 1.02 ^ N = X

Here, N represents the number of years over which the price increase will be calculated, and X represents the price after that number of years.

not enough information

step-by-step explanation:

we cannot know this, because the other students could have handed out 10 flyers, or they could have handed out 100. one way, the mean would go up, and another way, the mean would go down.