Suppose That the Annual Rate of Inflation Averages 4% Over

Multiple Choice

Suppose that the annual rate of inflation averages 4% over the next 10 years.With this rate of inflation,the approximate cost C of goods or services during any year in that decade will be given by , where t is time in years and P is the present cost.If the price of an oil change for your car is presently $25.95,estimate the price 10 years from now.Round your answer to two decimal places.

A) $39.95
B) $40.41
C) $41.95
D) $43.41
E) $38.41