$\text { If the annual rate of inflation averages } 8 \% \text { over the next } 10 \text { years, the approximate }$

Multiple Choice

$\text { If the annual rate of inflation averages } 8 \% \text { over the next } 10 \text { years, the approximate }$ cost $C$ of goods or services during any year in that decade is $C ( t ) = P ( 1.08 ) ^ { t }$ where $t$ is the time in years and $P$ is the present cost. The price of an oil change for your car is presently $\$ 24.35$ . Estimate the price 3 years from now. Round your answer to two decimal places.

A) $\$ 26.30$
B) $\$ 30.67$
C) $\$ 78.89$
D) $\$ 25.61$
E) $\$ 94.31$