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Find the current price of the item

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If the rate of inflation is 3.9% per year, the future price p(t) (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today

p(t)=2500(1.039)^t

Find the current price of the item and the price 8 years from today.

Round your answers to the nearest dollar as necessary.

Reference no: EM132602342

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