Let y = 32,000(0.94)x represent the purchasing power of $32,000 with an inflation rate of 6% per year, where x represents the number of years. Predict the purchasing power 6 years later, to the nearest dollar.

$24,984

$23,485

$22,076

$20,751

Question

Let y = 32,000(0.94)x represent the purchasing power of $32,000 with an inflation rate of 6% per year, where x represents the number of years. Predict the purchasing power 6 years later, to the nearest dollar.
 
		
$24,984
 		
$23,485
 		
$22,076
 		
$20,751

rulnick · Answer

Well, it sounds like you would do y = 32000(0.94)6.  (And I think you mean ^6, because the 6 is an exponent, right?)

anonymous · Answer

Uhm i think so not sure I just copied and pasted

rulnick · Answer

Yeah, sounds right, then.  So then you can use a calculator to find 0.94 to the 6th power, and then multiply that by 32000.

rulnick · Answer

I'll give you a hint.  It's one of the last two answers.  Can you get it now?

anonymous · Answer

$22,076?????

anonymous · Answer

is it 22,076??

rulnick · Answer

Yes.  Sorry, I was away.

rulnick · Answer

Good job.