The price of gourmet coffee beans at the corner market has increased 10% per year over the past several years if the current cost is $40 per pound what did a pound of gourmet beans cost two years ago

$32.4

Step-by-step explanation:

Given : The price of gourmet coffee beans at the corner market has increased 10% (0.1) per year over the past several years.

The current cost is $40 per pound .

The exponential decay equation is given by :-

, where r is the rate of decay and A is the initial amount and x is the time period.

Put A = 40 , r= 0.1 and t=2, we get

Hence, the cost of  a pound of gourmet beans two years ago= $32.4

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