CPM Homework Help : CCA2 Problem 7-133

The average cost of movie tickets is $$9.50$ . If the cost is increasing 4% per year, in how many years will the cost double?

Hint:

Construct a representation of this scenario using the generic exponential equation:
$y = ab^{x}$

More Help:

Solve for $x$ (the number of years):
$2\left(9.50\right) = 9.50\left(1.04\right)^{x}$

Answer:

$\approx17.67\ \text{years}$