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3-65.

The price of a movie ticket averages $10.25 and is increasing by 3% per year. Use that information to complete parts (a) through (c) below. Homework Help ✎

  1. What is the multiplier in this situation?

    Since the price is increasing, the multiplier is 100% + 3%.

    1.03

  2. Write a function that represents the cost of a movie ticket n years from now.

    Use the general equation for an exponential function: t(n) = a(b)n,
    where a is the initial value, b is the multiplier, and n is time, in years.

    t(n) = 10.25(1.03)n

  3. If tickets continue to increase at the same rate, what will they cost 10 years from now?

    Use the equation from part (b).

    $13.78