Question

A university proposed a parking fee increase. The university administration recommended gradually increasing the daily parking fee on this campus from $6.00 in the year 2004, by an increase of 8% every year after that. Call this plan A. Several other plans were also proposed; one of them, plan B, recommended that every year after 2004 the rate be increased by 60 cents.

a. Let t=0 for year 2004 and fill in the chart for parking fees under plans A and B.

Round your answers for the values under Plan A to two decimal places, and enter the exact answers for the values under Plan B.

Years after 2004	Parking Plan under Plan A	Parking Plan under Plan B
0	$6.00	$6.00
1	$	$
2	$	$
3	$	$
4	$	$

b. Write an equation for parking fees FA as a function of t (years since 2004) for plan A and an equation FB for plan B.

Enter the exact answers.

FA=

Edit

FB=

Edit

c. What will the daily parking fee be by the year 2025 under each plan?

Round your answer for the value under Plan A to two decimal places, and enter the exact answer for the value under Plan B.

Under plan A, the daily parking fee in the year 2025 with be $.

Under plan B, the daily parking fee in the year 2025 with be $.

d. Imagine that you are the student representative to the Board of Trustees. Which plan would you recommend for adoption?

For students,

Plan APlan B

is less expensive over the next  years, so it should be recommended.

Answer 1

Please UPVOTE.