An economist predicts that the buying power B(x) of a dollar x years from now will decrease according to the form $B ( x ) = 0.61 ^ { x }$ . How much will today's dollar be worth in 7 years? Round the answer to the nearest cent.
A) $3.28
B) $4.27
C) $0.71
D) $0.03

Question

Quizplus · Accepted Answer

To find the buying power in 7 years, substitute x = 7 into the equation: $B(7) = 0.61^7$. Calculating this gives approximately 0.03, meaning today's dollar will be worth about $0.03 in 7 years.

An Economist Predicts That the Buying Power B(x) of a Dollar