Answer:
Option B is correct.
the average cost in 1990 is, $12,841
Step-by-step explanation:
Given the equation :
[tex]y = 12841(1.01)^x[/tex] ....[1]
where y represents the he average cost of an education at a private college after 1990 and x be the time in years.
We have to find the average cost in 1990.
⇒[tex]x = 0[/tex]
Substitute in [1] we have;
[tex]y = 12841(1.01)^0[/tex]
Simplify:
[tex]y =\$12,841[/tex]
Therefore, the average cost in 1990 is, $12,841
