type the correct answer in the box.\nin 1979, the price of electricity was $0.05 per kilowatt - hour. the…

type the correct answer in the box.\nin 1979, the price of electricity was $0.05 per kilowatt - hour. the price of electricity has increased at a rate of approximately 2.05% annually. if t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt - hour to reach $0.10. fill in the values of a, b, and c for this situation. do not include dollar signs in the response.\nc = a(b)^t

type the correct answer in the box.\nin 1979, the price of electricity was $0.05 per kilowatt - hour. the price of electricity has increased at a rate of approximately 2.05% annually. if t is the number of years after 1979, create the equation that can be used to determine how many years it will take for the price per kilowatt - hour to reach $0.10. fill in the values of a, b, and c for this situation. do not include dollar signs in the response.\nc = a(b)^t

Answer

Explanation:

Step1: Identify the initial - value

The initial price of electricity in 1979 is the starting amount. So, $A = 0.05$.

Step2: Identify the growth - factor

The price increases at a rate of 2.05% or 0.0205 annually. The growth factor $b$ is $1 +$ the growth rate. So, $b=1 + 0.0205=1.0205$.

Step3: Identify the target - value

The target price per kilowatt - hour is $c = 0.10$. But we are asked to find the values of $A$ and $b$ for the equation $c = A(b)^t$.

Answer:

$A = 0.05$, $b = 1.0205$