Data from the St. Louis Post-Dispatch indicate that the cost in dollars of a gallon of gasoline from 1966 to 2006 can be modeled approximately by the natural growth function G(t) = 0.32(1.055)t, where t is years alter 1966.
a. According to this model, what was the price of a gallon of gas in 1966?
b. At what annual percentage rate was the price of a gallon of gas growing over this time period?
c. Use the model to predict the price of a gallon of gas in 2016.
d. Use the model to predict the year in which the price of a gallon rises to $5.
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