Exponential Functions · Exercise 2
Find the value of an exponential function.
We also find the value of the function when we solve application problems involving exponential functions.
Medicare Premiums. The monthly Medicare Part B health-care premium for most beneficiaries ages 65 and older has increased significantly since 1975. The monthly premium has increased from about $7 in 1975 to $110.50 in 2011 (Source: Centers for Medicare and Medicaid Services). The following exponential function models the premium increases:
where x is the number of years since 1975.
Estimate the monthly Medicare Part B premium in 1985, in 1992, and in 2002. (Note that x is the number of years since 1975, so for 1985, x=10.) Round to the nearest dollar.
Its source prints no answer for this problem, so there's nothing to check against.
OpenStax, Algebra and Trigonometry 2e · §6.1 Exponential Functions · Exercise 2
No hints for this one.
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