The price of products may increase due to inflation and decrease due to depreciation. derek is studying the change in the price of two products, a and b, over time.
the price f(x), in dollars, of product a after x years is represented by the function below:
f(x) = 0.69(1.03)x
part a: is the price of product a increasing or decreasing and by what percentage per year? justify your answer. (5 points)
part b: the table below shows the price f(t), in dollars, of product b after t years:
t (number of years)
1 2 3 4
f(t) (price in dollars)
10,100 10,201 10,303.01 10,406.04
which product recorded a greater percentage change in price over the previous year? justify your answer. (5 points)