Question

in year 2000, the price of oil was $2.50 per gallon. in year 2020, the price of oil was $2.90. assuming that the price of oil follows a linear pattern, what would be the price of oil in year 2030?

Answer 1

`m = (2.90 - 2.50)/(20 - 0) = (.40)/(20) = .02`

`f(x) = .02x + 2.50`

`f(30) = .02(30) + 2.50`

`f(30) = 3.10`

In 2030, the price of oil would be $3.10.