Beverly moved into an apartment close to her new job. She will be paying $1800 per month in rent and expects a 3% rent increase each year. Express the rent y as an exponential function of the number of years rented, x.

y = 21600(1.03)^x

Step-by-step explanation:

The formula for determining exponential growth is expressed as

A = P(1 + r)^t

Where

A represents final value.

P represents initial value.

r represents rate of increase.

t represents number of years

She will be paying $1800 per month in rent. Since there are 12 months in a year, it means that the amount that she would pay in a year is

1800 × 12 = $21600. Therefore, P = 216000

She expects a 3% rent increase each year. This means that

r = 3/100 = 0.03

Therefore, the expression for the rent y as an exponential function of the number of years rented, x is

y = 21600(1 + 0.03)^x

y = 21600(1.03)^x

.19875994384

step-by-step explanation:

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