The price of the latest incredible iThing from Apple starts at $200 when it is first released. Every year it gets better but the price goes up 8%. What is the price after 20 years?
+9466 These price values are in dollars:
price after 0 years = 200
price after 1 year = 200 + 8% of 200 = 200 + 0.08(200) = 200(1 + 0.08) = 200(1.08)
price after 2 years = 200(1.08)(1.08)
price after 3 years = 200(1.08)(1.08)(1.08) = 200(1.08)3
price after x years = 200(1.08)x
price after 20 years = 200(1.08)20 ≈ 932.19
The price after 20 years is about $932.19 .
+9466 These price values are in dollars:
price after 0 years = 200
price after 1 year = 200 + 8% of 200 = 200 + 0.08(200) = 200(1 + 0.08) = 200(1.08)
price after 2 years = 200(1.08)(1.08)
price after 3 years = 200(1.08)(1.08)(1.08) = 200(1.08)3
price after x years = 200(1.08)x
price after 20 years = 200(1.08)20 ≈ 932.19
The price after 20 years is about $932.19 .
