Inactive Tutor answered 08/31/19
I believe you are off by 1 year....
At the beginning of 2014, the price will be $106
The reason is you need 24 FULL years, and in the formula you have 23 years
46 + (2014-1990)*2.50 = 46 + 24*2.50 = 106
Declan V.
asked 08/31/19Violin lesson fees started at $46 per hour in January, 1990, and gradually increased by $2 .50 every year. How much is the hourly cost in January of 2014? Hint: It’s not a good idea to just apply tn=t1+d(n-1). How much do you pay in January 1991? 1992? Then use the pattern you see.
I can't figure out why in this question it is noted, "It's not a good idea to just apply *formula*", as I have worked out the question by writing out the yearly increase in cost, which comes out to $103.5 dollars in January 2014.
When put in the same equation that is discouraged to use, I get the same answer; $103.5.
What am I doing incorrectly, or have I done the question correctly?
Tn = t1 + (n-1)d
t24 = 46 + (24-1)2.50
t24 = 46 + 57.50
t24 = 103.5 dollars
Inactive Tutor answered 08/31/19
I believe you are off by 1 year....
At the beginning of 2014, the price will be $106
The reason is you need 24 FULL years, and in the formula you have 23 years
46 + (2014-1990)*2.50 = 46 + 24*2.50 = 106
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