Tickets for a concert have been in incredibly high demand, and as the date for the concert draws closer, the price of tickets increases exponentially. The cost of a pair of concert tickets was $
What is the daily percent rate of increase? What is the multiplier?
What percent of $
is $ ?
What will be the cost of a pair of concert tickets one week from now?
Construct a table of values or an equation describing the relation
between the number of days since yesterday and the price of a ticket.
What was the cost of a pair of tickets two weeks ago?
In order to go backwards, make the exponent negative.
Remember exponential equations look like this, y = a bx where a is initial value, b multiplier and x is time.
What will be the cost of a pair of tickets two weeks from now? Does your answer make sense? Why or why not?
Time in the equation is in days, the problem gives you weeks. What do you do?