In 2014, the average price of a new car was $37600. New-car prices increased by approximately $1250 per year. If this trend continues, how many years after 2014 will the price of a new car average $46350? In which year will this occur?

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Answer 1 · 2017-06-06T08:15:05

Year 2021

I think arithmetic progression method can be solved this question.
Let say #a_1 = 37600, d = 1250 and a_n = 46350#

#a_n = a_1 + (n -1)d#

#46350 = 37600 + (n -1)1250#

#46350 = 37600 + 1250n - 1250#

#46350 - 37600 + 1250 = 1250n#

#10000 = 1250n#

#10000/1250 = n#, #->n = 8#

it takes 8 years to achieve$46350, therefore the yearoccurs will be 2021.